Forex and Bitcoin news from the European morning trading7 Mar 2018
News:
- EU's Malmstrom says US trade tariffs would damage transatlantic relations
- Germany's Zypries says that EU will respond in appropriate manner to US tariffs
- EU Brexit draft guidelines says UK financial services can operate in EU under host state rules
- IMF's Lagarde says that nobody wins in a trade war
- Market remains tentative as trade war concerns cast a shadow
- UBS warns of the implications of a 'deep trade war'
- Japan's FSA is looking to penalise some cryptocurrency exchanges - report
- Mt Gox trustee sold ¥38 billion worth of Bitcoin
- EU Commission says 11 EU states facing economic imbalances
- FX option expiries for the 15.00 GMT cut - 7 March 2018
- Central Bank of Turkey leaves interest rates on hold
- EUR/USD climbs to touch two-week high
- Credit Agricole says that Cohn's resignation is spurring buying interest in the yen
- BOJ deputy governor nominee Amamiya: Very regrettable that inflation hasn't hit target
- More from Amamiya: BOJ not at a stage yet to debate exit strategy from easing policy
- BOJ deputy governor nominee Amamiya says economy is making progress towards inflation target
- Even more from Amamiya: Higher US interest rates are a good thing for Japan
- More from Wakatabe: Vital to examine net effects of 2019 sales tax hike
- BOJ deputy governor nominee Wakatabe says task remains to completely end deflation
- Goldman Sachs sees a steepening in the US yield curve
- China February FX reserves $3.13T vs $3.16T prior
- SNB January forex reserves CHF 733bln vs 735bln exp
- PBOC governor Zhou to meet with reporters on Friday during NPC
- Aussie holds up after navigating through data landmines this week
- Trading ideas for the European session
- Nikkei 225 closes lower by 0.77% at 21,252.72
- ForexLive Asia FX news:Cohn resigns, sends yen higher
Data;
- Eurozone Q4 final GDP q/q +0.6% vs +0.6% prelim
- UK Halifax Feb HPI mm 0.4 % vs 0.4% exp
- France January trade balance EUR -5.56bln vs -4.35bln exp
A busy session in terms of rhetoric but not extensive fx moves. Plenty of option expiry interest too helping to contain range.
USDJPY had fallen in Asia to test the 105.50 option expiry support but has held since, albeit struggling to get back over 105.80. Yen demand prevailing overall still as the trade war scenario continues to play out.
EURUSD has continued its journey higher to posy recent highs of 1.2447 before running into sellers helped by EURJPY supply and we've seen a test of 1.2400.
GBPUSD has been capped by GBPJPY supply and EURGBP demand again and we've seen lows of 1.3846 before finding option related support. GBPJPY lows of 146.23 with EURGBP highs of 0.8968.
USDCHF has held 0.9360 and remains underpinned with SNB in the frame as EURCHF advances further to post 1.1681
USDCAD has been flat-lined around 1.2925 as we wait on BOC as has AUDUSD between 0.7800-20
Bitcoin has continued its recent retreat to test $10400 again from $10800
Gold has drifted lower to $1330 from $1335 while oil has drifted higher with WTI posting $62.20 from $61.80
Data and BOC coming up:
