ForexLive European FX news wrap: Quiet session again but some yen supply notable.US CPI awaited.

Author: Mike Paterson | Category: News

Forex and cryptocurrency news from the European morning trading 13 Mar 2018


All things relative in these times of tight ranges and limited price action but we seen some JPY selling today as USDJPY finds dip demand again. Bitcoin failed into $9500 and since tested $9000

Option expiry interest at 107.00 which has previously helped to cap rallies is absent today but returns tomorrow with $3.6bln worth of contracts rolling off. While the cat's away then, and with diminishing year-end yen repatriation, we've seen the pair pop to 107.23 with yen pairs similarly underpinned and rallying. Expiries at 107.50 today though and should help to contain.

The yen supply given support to core pairs and GBPUSD traded mainly around 1.3895 after failing into 1.3920 with the UK fin min's Spring Statement coming up at 12.30 GMT. EURUSD spiked to 1.2351 from 1.2335 on comments from ECB's Lane but was short lived ands soon back to from whence it came.

USDCHF has trawled around 0.9470 and EURCHF 1.1685 after holding some support lines I highlighted yesterday and pointing the finger at the SNB.

USDCAD held 1.2840 and nudged up to 1.2865 while AUDUSD failed into 0.7900 in Asia and traded tightly around 0.7865 since

Gold has dropped from $1322 to $1318 while oil has also dipped with WTI down to $61.35 from $61.60.

Data focus comes in the shape of US CPI at 12.30 GMT (don't forget NA clocks moved fwd one hour at the week-end)