Forex news from the European trading session - 13 February 2018
News:
- Bitcoin falls below trendline support, tests 100-hour moving average
- Japan's Coincheck files report with FSA over hacking incident
- Dubai gold trader gets first Middle East license in cryptocurrencies - report
- Bitcoin a little lower on the day, tests trendline support
- Japan's currency chief says will watch for speculative movements in the yen
- Russia's Novak says global oil inventories are shrinking
- IEA boosts 2018 forecast for global oil demand to 1.4 mil barrels per day
- Morgan Stanley still sees oil peaking at $75 per barrel this year
- US equity futures are fueling the yen trade further
- Danske Bank stays bullish on sterling following inflation report release
- Pound perks up after post-data retreat
- And just like that, the 108.00 level gives way in USD/JPY
- AUD/USD continues run up, but nears resistance pocket
- Slippery slope for USD/JPY keeps the dollar offered on the day
- ONS data releases to be rescheduled starting from April 2018
- China commerce ministry expresses concerns over US protectionism in steel sector
- FX option expiries for the 15.00 GMT cut - 13 Feb 2018
- PBOC governor says that central bank will maintain prudent monetary policy in 2018
- Trading ideas for the European session 13 Feb
- Nikkei 225 closes lower by 0.65% at 21,244.68
- ForexLive Asia FX news: Last week has been cancelled - back to normal now zzzzzz
Data:
- UK January CPI mm -0.5 % vs -0.6% exp
- UK January PPI output NSA +0.1% vs +0.2% m/m expected
- France Q4 preliminary non-farm payrolls +0.3% vs +0.3% q/q expected
- US Jan NFIB small business optimism index 106.9 vs 104.9 prior
- Switzerland January PPI m/m +0.3% vs +0.2% prior
- Japan January preliminary machine tool orders y/y +48.8% vs +48.3% prior
USD supply generally prevailing still but that's not been the whole story and we've seen good two-way opportunity.
Here's your p/a summary:
- GBPUSD up to 1.3925 from 1.3870 in second wave buying after stronger CPI data but since in retreat again and heading back through 1.3880 as I type.
- EURUSD underpinned above 1.2300 but capped by EUR cross plays
- EURGBP failed into 0.8900 and fell back to 0.8858 as GBPUSD rallied
- USDJPY on the back foot posting 5mth lows of 107.42 but since found a few buyers
- USDCHF underpinned around 0.9330 with SNB in the frame. Ditto EURCHF at 1.1500
- AUDUSD has large options casting a shadow but has dropped from 0.7870 to 0.7845
- USDCAD tightly bound but rallying to 1.2590 after 1.2570 support
- Bitcoin on the back foot mostly testing support lines
- Equities in Europe on back foot .US futures too mostly
- Oil finding a bit of demand after yesterday's retreat
GBPUSD in up n down mode today
No data of note to come . Just US Redbook w-e 9 Feb at 13.55 GMT
Savage crash - RIP Cryptocurrencies? Five insights from the ASAC Fund.
