Forex news for the European morning trading session 25 Oct 2017
News:
- Hammond says GDP data shows UK has a successful and resilient economy
- UK Q3 GDP appears to set the seal on a BOE rate hike, or does it ?
- More from Davis (2) : Intention is to bring Brexit deal to UK parliament first
- More from UK's Davis: Implementation period will be quite simple
- UK's Davis says he expects guidance on implementation period in December
- IFO poised to raise German GDP forecast
- Spain's Rajoy says election in Catalonia is the only way out
- Dai-Ichi Life likely to increase unhedged foreign bond holdings in Oct-March period
- Meui Yasuda Life says it will increase foreign bond holdings in H2 2017-18
- Forex option contract expiries for today 25 Oct
- India's 2017-2018 GDP expectations lowered by economists
- Yen and swiss franc sold again as USD demand prevails
- Trading ideas for the European session
- Forexlive Asia FX news wrap: Australian 3Q CPI disappoints
Data:
- UK Q3 GDP first reading qq 0.4% vs 0.3% exp
- Germany IFO Oct business climate 116.7 vs 115.1 exp
- Switzerland CS Oct investor sentiment 32.0 vs 28.0 prev
- Switzerland UBS Sept consumption indicator 1.56 vs 1.53 prev
A good day so far for the pound as better GDP data and yen weakness ( GBPJPY demand) has pushed GBP higher across the board.
Here's your p/a summary:
- GBPUSD rallies to 1.3255 from 1.3125 pre-GDP data
- EURGBP down to 0.8885 from 0.8955
- GBPJPY up to 151.41 from 149.40
- USDJPY up to 114.25 from 113.70
- EURUSD steady for the most part between 1.1555-75 caught up in cross plays but EURGBP selling mostly being match by EURJPY and EURCHF demand
- AUDUSD on the back foot after soft CPI data but steady in this session finding support/demand into 0.7700
- USDCAD has traded steadily 1.2670-90 ahead of BOC decision. Option expiry interest at 1.2700. Update 11.45: USDCAD spiked now to 1.2724
- NZDUSD still on the back foot around 0.6880 mostly
- Oil generally firmer WTI down $52.20 from $52.50
US durable goods data at 12.30 GMT then BOC rate decision at 14.00 GMT
Full schedule:
