Forex news for the European morning trading session 8 Sept 2017
News:
- Earthquake of magnitude 8 off Mexican coast
- ECB policy makers agreed next step is to cut stimulus and done with broadest possible consensus
- BUBA'S Weidmann says uncertainty over inflation path was behind ECB decision to wait
- More from Weidmann: ECB should not miss the right moment to act on policy
- UK's Johnson says Article 50 says exit talks must run in context of future ties
- BOJ's Nakaso says a little more time needed to reach price target of 2%
- China's policy makers concerned about pace of yuan gains
- USD supply still notable as we wait on NA desks
- Tsipras says that current bailout programme will be the last for Greece
- Forex option contract expiries for today 8 Sept
- Trading ideas for the European session 8 Sept
- Nikkei 225 closes down -0.63% at 19274.82
- ForexLive Asia FX news wrap: USD slide continues in Asia
Data:
- Germany July trade balance EUR 19.5bln vs 21.0bln exp
- UK July industrial production mm 0.2% vs 0.2% exp
- UK July visible trade balance GBP -11.576bln vs -12.0bn exp
- France July budget balance July YTD EUR -83.8bln vs -62.3bln prev
- Switzerland Aug unemployment rate 3.0% as expected
It's been a session that overall has seen a steady retreat again for the US dollar after an initial pause for breath. Sad news of deaths in the largest earthquake around Mexico and surrounding countries for over a century, plus the on-going devastation caused by hurricanes in the US and Caribbean.
USDJPY failed to make any rally of note to start the session and was a trend setter again falling from 108.20 to 10-month lows of 107.36 but USDCHF was less inclined to follow having already been down to 0.9420, lows not seen since August 2015. The subsequent rally though (SNB? just saying) to 0.9480 was sold into and retreated to 009460 as I type.
USDJPY
EURGBP had an early look at 0.9200 but failed again and its steady retreat to 0.9127 has helped lift GBPUSD to 5-week highs of 1.3218.
USDCAD found support into 1.2060 and has since rallied back above 1.2100 while AUDUSD held 0.8080 after its early retreat from 0.8126 and has since been back up to 0.8114.
US and Canadian data on the slate plus Fed's Harker up to the mic.
