Forex and Bitcoin news from the European morning trading session 22 Feb 2018
News:
- US Fed's Bullard doesn't see 120bp in hikes this year
- Fed's Quarles says that natural rate of interest is increasing in the US
- NetEase CEO rumoured to have purchased $1 billion worth of Bitcoin
- Fed's Quarles says gradual rise in interest rates are 'appropriate'
- Video: There are two paths to crazy cryptocurrency gains
- Bitcoin tumbles to day's low, falls below near-term support levels
- US yields higher post FOMC minutes, stocks drop, USD strengthens
- May and her cabinet meet today to try and find common path on Brexit
- GBP pairs under pressure again
- Merkel says that "we need more than ever European answers to global problems"
- EUR/USD hits session highs as dollar loses further ground
- Macquarie Bank says that commodities are a good bet right now
- Japan's Asakawa says that Japanese banks are in search of yield
- Australia-US yield spread continues its spiral downwards
- FX option expiries for the 15.00 GMT cut - 22 Feb 2018
- BofA says that inflation will spur a rise in the USD
- European equity markets open lower again 22 Feb
- BofAML expects further weakness in Asian currencies in the coming months
- Trading ideas for the European session 22 Feb
- Nikkei 225 closes lower by 1.07% at 21,736.44
- ForexLive Asia FX news: Yen gains in Asia today
Data:
- UK Q4 provisional GDP qq 0.4% vs 0.5% exp
- UK CBI Feb retail sales balance +8 vs +13 exp
- Germany Feb IFO business climate 115.4 vs 117.0 exp
- France January final CPI m/m -0.1% vs -0.1% prelim
- France February business confidence 109 vs 110 expected
- Italy January final CPI m/m +0.3% vs +0.2% prelim
- Italy December industrial sales m/m +2.5% vs +1.3% prior
- Switzerland Q4 industrial output WDA y/y +8.7% vs +8.6% prior
A scrappy session that's seen equities extend losses and bringing with it risk-off sentiment yen and swiss franc demand notable. Bitcoin/cryptos in retreat again.
Here's your p/a summary:
- USDJPY caps above 107.50 and retreats below 107.20
- USDCHF fails again above 0.9400 and posts 0.9375
- GBPUSD caps at 1.3920 but finds support at 1.3880 only to break lower to 1.3855 with GBPJPY selling leaving the way
- EURUSD steady around 1.2285 caught in the cross play crossfire and with ECB Minutes due at 12.30 GMT
- AUDUSD finds support at 0.7780 and rallies to 0.7825
- USDCAD down and up in a 1.2680-1.2700 range
- Equities opened down and extended losses
- Oil recovered a little poise
- Bitcoin falls below $10000 from $10700 area
US weekly claims and Canadian retail sales data next risk at 13.30