Forex news from the European trading session - 23 January 2018
News:
- Bitcoin continues to flirt around the $10,000 level
- Japan's Motegi says TPP II will be signed on 8 March
- 8.0 magnitude earthquake off Alaska prompts tsunami alert
- BOJ's Kuroda: No need to change 2% price target
- BOJ's Kuroda: BOJ target is YCC, not the amount of JGB purchases
- BOJ's Kuroda: Japan economy to continue growing above potential
- More from BOJ's Kuroda: Sticking with 2% price target will help stabilise currencies
- Moody's: Germany's economy to be resilient in 2018 and 2019
- ZEW study shows ECB are buying more bonds of high-debt countries
- China eyes more tax cuts to sustain economic recovery - state media
- Britain open for business says fin min Hammond
- Latest ECB survey sees Q1 demand rising for corporate loans, mortgages and consumer credit
- More on the China tax cuts story earlier - via Xinhua
- RDIF head Dmitriev sees Russia-OPEC deal lasting for years
- Bank of Thailand the latest of central banks in Asia to be concerned about dollar weakness
- US GDP growth to average 2.6% in 2018 - Reuters poll
- South Korea looks for WTO support over US tariffs - Reuters
- USD/CAD still respecting technical levels as NAFTA talks loom large
- FX option expiries for the 10am NY cut - 23 Jan 2018
- Pound under early pressure as European desks get underway
- USD/JPY touches session lows as yen extends gains on the day
- AUD/NZD continues to head to lower and keeps the kiwi supported
- ANZ says the case for euro strength is firming up
- European equities open firmer on the day
- Trading ideas for the European session 23 Jan
- Nikkei 225 closes up by 1.29% at 24,124.15
- ForexLive Asia FX news wrap: US first mover in coming trade war
Data:
- German ZEW January survey current situation 95.2 vs 89.6 exp
- UK January CBI trends total orders 14 vs 12 expected
- UK Dec public sector net borrowing £1.0 bn vs £4.3 bn expected
- Japan December final machine tool orders y/y +48.3% vs +48.3% prelim
- Japan November all industry activity index m/m +1.0% vs +0.8% expected
- Japan Dec nationwide dept sales y/y -0.6% vs +2.2% prior
A busy session that's seen Bitcoin and cryptocurrencies trade lower as indeed has the pound and aussie dollar most notably.
Recent demand for GBP on soft Brexit hopes finally touched and took out the 1.4000 GBPUSD barrier option in Asia but it's a been a steady decline to 1.3920 since with EURGBP basing at 0.8761 and now posting 0.8789 as I type. General GBP weakness with GBPJPY also a notable with yen strength returning.
USDJPY failed around 111.00 again in the post-BOJ/Kuroda melee and has since been down to 110.37 with US treasuries falling too but dip demand again helping to post 110.51 since. Large option expiries at 109.85 today lurk behind the ongoing barrier interest at 110.00
AUDUSD failed around 0.8030 again and this time has found added energy to fall back to 0.7957. AUDNZD supply has helped underpin NZDUSD into 0.7300.
USDCAD had a quick dip to 1.2460 but didn't take too long to rebound with oil and NAFTA talks in play.
European equities opened strongly helped by US govt re-opening but have since faded a little.
Not a lot to come on the data front but expect news on NAFTA talks and comments from Davos and ECOFIN meeting in the on-going mix.
