Session Wraps - Major Forex Headlines wrapped up by trading session

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Author: Justin Low
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Forex news for European trading 14 December 2017:

Central banks:

Economic data:

Others:

Markets:

  • AUD leads the pack, NZD the laggard
  • Equities mostly lower across the board in Europe and in Asia
  • Gold up on the day +0.11%
  • WTI crude down on the day -0.62%
  • US 10-year yields up 3bps to 2.37%
It was central bank bonanza day but barely anything budged to be honest. The dollar started the session on the backfoot, but then recovered some poise as European traders came into play.

Central bank-wise, the SNB got things started leaving rates unchanged. That was followed up by the Turkish central bank raising rates, but below expectations. Then, we had the BOE also leaving rates unchanged. And lastly, the ECB also left things unchanged in their rate decision.

A lot of events, but not very eventful to sum it up.

GBP was the most eventful currency on the major bloc as retail sales data gave it a little bit of a boost as GBP/USD went up to 1.3466, before it came crashing back down as a Twitter post (!) sent fear into the market to 1.3409. All in all, it was just a "damp squid" as David Davis was not to be found in contempt for not being clear with his Brexit statements in parliament. GBP/USD came back up to 1.3440 again. Then, we had the BOE decision and the pair fell back to a low of 1.3418.

Good two-way pips to be had. Other major currencies were a bit more quiet on the day, nothing much happening. Watch out for option expiries as there are some large ones for EUR/USD and USD/JPY that could come into play.

The AUD leads the way after better than expecting job numbers early in the Asian session, while the NZD continues to lag after the New Zealand government cut growth forecasts in an announcement earlier.

Hope you all have a good rest of the day, and see you all again tomorrow!

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Author: Eamonn Sheridan
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Forex news for Asia trading Thursday 14 December 2017

he People's Bank of China edged rates on their MLF funds issued today by 5 basis points, and on 7 & 28 day reverse repos by 5 bps also. Talk about baby steps.

The other news item of note was the huge jump in Australian employment (November), coming in 3x the median consensus expectation (+61K vs. +19K expected), further details at the post (see bullets above).

The Australian dollar was a (relatively) big mover on the session, up 50 or so points ... actually nah, not even that much: from circa 0.7630 prior to the data to a high around 0.7675 where it halted and has since wobbled more or less sideways. The general perception out there is that yes, good data, but such a pace of gains is unlikely to be sustained and wage growth is lacklustre anyway. Tough crowd, eh?

NZD/USD and USD/CAD have both done little during the session.

USD/JPY had a further late slither lower in the US afternoon/very early Asia before recovering just a few points to top ahead of 112.80. EUR/USD managed to tic up a few extra points in the Asian morning to above 1.1840 and is just off there as I update.

Cable too, a little higher for the session, adding another 20 or so points to its NY time high. USD/CHF is little changed.

Stay tuned for central bank's galore during Europe/UK time:

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Author: Adam Button

Forex news for US trading on December 13, 2017:

Fed headlines:

Other news:

Markets:

  • Gold up $11 to $1256
  • WTI crude down 40-cents to $56.74
  • US 10-yaer yields down 5.5 bps to 2.34%
  • S&P 500 down 1 point to 2663
  • NZD leads, USD lags

The CPI report was the early driver and it was a good signal. Prices rose more-slowly than expected and the dollar slumped around 30 pips across the board. It stabilized from there as the market waited on Yellen.

The FOMC decision was entirely as expected but there were a few things that led to the dollar drop: 1) No particular optimism 2) Slight downgrade on jobs outlook 3) Dots stayed the same 4) Higher growth forecasts but inflation unchanged 5) Two dissents.

The move wasn't huge to start and there was some chop but it eventually got some momentum and USD/JPY slid to 112.55 from 113.10. EUR/USD rose to 1.1825 from 1.1765.

The commodity currencies also made sizeable moves, especially the New Zealand dollar. It had been only slightly higher before CPI but jumped more than a half-cent 0.7700 on those headlines and then up to 0.7022 late.

Virtually everything finished at the best levels of the day against the dollar. The pound even shrugged off a negative vote on Theresa May's Brexit plans to climb a full cent on the day, hitting 1.3415.

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Author: Mike Paterson

Forex news for the European morning trading session 13 Dec 2017


News:
Data:
Muted price reactions all session as traders and bots press the pause button ahead of the FOMC rate decision later.

Not a lot of price action to report to be honest. A few pips to be had across a few pairs but limited. Mostly a snooze fest.

GBPUSD got bought up to 1.3368 from 1.3325 ahead of wages/jobs data but the fact got sold back in what has been another rinse n repeat session. EURGBP has been down to 0.8782 with large options playing out.
                                                              GBPUSD 15m

Focus is on the FOMC at 19.00 GMT but some US data before that and large options in play.

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