Forex and cryptocurrency news from the European morning trading 23 Mar 2018
News:
- European leaders formally adopt Brexit trade negotiating guidelines
- Tusk says EU leaders call for permanent exemption from US tariffs
- US launches WTO complaint against China
- The notable name missing from Trump's tariffs exemption list
- Full statement of the tariff exemptions by the White House
- Trump issues tariff exemptions for EU, Australia, Korea, Brazil
- US has not provided list to China in order to remedy trade ties - Reuters
- Mizuho says the aussie may be a surprise beneficiary from a global trade war
- UBS says that tariffs announcement should have little effect on US economy
- Oil pares gains on the day as Bolton euphoria wears off
- Bank of Russia cuts key interest rate by 0.25% to 7.25%
- Market-derived inflation expectations are easing in the Eurozone
- European equities continue to slide as trade wars rhetoric weigh on stocks
- Moody's says impact of US trade dispute is manageable for rated Chinese companies
- Russia says they are preparing restrictions on US imports - report
- Nomura says that US trade actions against China were softer than expected
- Japan's Aso says recent market moves are divorced from economic fundamentals
- Joseph Stiglitz says China can withstand a trade war better than Trump
- UK PM May says will work to make US tariffs exemption permanent
- Trading ideas for the European session 23 March
- China foreign ministry says US has underestimated China's ability to protect its interests
- China says they are to react accordingly after US actions
- Germany's Altmaier says trade issues must be resolved in coming weeks
- USD/HKD trades higher, even closer to the trading band top
- China says it is not afraid of a trade war and is well prepared
- Nikkei 225 closes lower by 4.51% at 20,617.86
- The silent winner in today's trading so far
- 10-year JGB yields fall to lowest levels in 4 months
- US Congress approves $1.3 trillion spending bill
- Japan's Aso says that markets are overreacting to talks of a US-China trade war
- US Senate moves toward final vote on spending bill - Reuters
- BOJ's Maeda says that inflation has been somewhat weak
- Nikkei 225 extends decline, down by more than 4% on the day
- ForexLive Asia FX news: Regional equities Friday bloodbath
Data:
After the moves of the past 24 hours we've seen a little more order return as the week draws to a close with nothing of real impact hitting the newswires. Good volume option expiry interest also once again helping to contain ranges. Equities though continue in soggy mode.
USDJPY had another wobble lower in early Europe but has found support around 104.80 and resistance into 105.20 so far. Yen pairs similarly have been down and up and down and up.
GBPUSD has found support into 1.4080 again but struggles to breach 1.4120 while EURUSD trawls around 1.2330 contained by large option interest rolling off at 1.2300, 1.2330 and 1.2350
USDCHF continues to range with SNB support expected on dips into 0.9440 but CHF demand still prevailing and helping to cap into 0.9500.Ditto EURCHF between 1.1650-1700.
AUDUSD has traded 0.7710-30 ,USDCAD held 1.2900 but failed above 1.2935. NZDUSD though has made steady progress higher from 0.7220 to test 0.7250.
Bitcoin had an early fall below $8400 from $8750 but since found some consolidation around $8500
US durable goods at 12.30 GMT the next data risk with a few CB talking heads to follow.
