Forex news from the European trading session 17 October 2014

News:

Data:

  • Eurzozone construction output Aug mm +1.5% vs +0.3% revised prev yy -0.3% vs revised prev of +0.5%
  • Italian current a/c balance Aug EUR +2.321bln vs 6.816bln prev
  • Nikkei closes down -1.40% at 14,532.51

Ok, so its all relative but despite a stream of rhetoric and an early wobble on the pound markets have been much better behaved this morning

GBPUSD had a quick dip to 1.6030 from 1.6077 on BOE comments ( see above ) but then ground its way back and has since posted 1.6115 again while EURUSD had a little dip to 1.2780 only to bounce back around 1.2830 and generally looked well supported all session

USDJPY opened up on the back foot around 106.20 with a falling Nikkei but despite further falls the pair refused to give up any more ground and yen pairs turned higher dragging USDJPY to 106.60 before running into more offers. EURJPY has been up to 136.73 from 135.85.USDCHF has shadowed EURUSD again as EURCHF remains pinned around 1.2075

USDCAD has drifted down to session lows of 1.1225 while AUDUSD has rallied to have another look at 0.880 and NZDUSD has recovered its mojo to post 0.7961

A funny ol’ morning but with Yellen and data to come we should expect a livelier end to the week from here.