Forex news and trading data for the European session 30 May 2016
– Catch up on the news from Asia
To hike or not to hike, that is the sales tax question
Europe had the stage all to themselves this morning and that amounted to a grand total of 46 pips for the euro. As the dollar made further firming moves following the mess of sales tax news from Japan, EURUSD hovered around 1.1100 with a low of 1.1098. German import prices highlighted one side of the problem Europe still faces on inflation. France went some way to showing that there is signs of growth and that cemented the low in place for EURUSD. German regional numbers painted a better picture from last month and better sentiment from Europe also helped seal the bottom. EURUSD recovered to 1.1144 but couldn’t best Friday’s late bounce to just shy of 1.1150.