Forex trading headlines from the European morning session 16 Sept

News:

Data:

Its been mostly about the pound again this morning after yesterday’s slap on the euro and we’ve seen GBP pairs fall across the board

Cable opened up at 1.6215 and started to chew through decent bids into 1.6200. It wasn’t long before stops were triggered and we were quickly at 1.6185 lifting EURGBP to test the 0.7985 resistance from 0.7968. Once broken it was a green flag to 1.6165 and 0.8010 but not without a brief rally to 1.6190 after UK price data, before falling back to 1.6167 only to find support down there once again and rallying back above 1.6190.

Elsewhere USDJPY has drifted off to 107.05 from 107.34 highs as the 107.50 barrier defence continues to cast its own shadow but USDCHF has largely had the morning off around 0.9340 with EURUSD quiet around 1.2940 and EURCHF pinned near 1.2090

AUDUSD had a wobble after its post-RBA rally but once again held key support around 0.8985 and we were soon back above 0.9015 while USDCAD has spent the session drifting down from 1.0970 back near o/n lows around 1.0940. NZDUSD has also drifted lower from 0.8175 to 0.8144 before finding a few buyers.

All in all there’s been a fair bit going on as the countdown to the week’s main events continues