ForexLive morning news wrap: Pound continues to shine after UK inflation data. Yen weakness also notable.
Forex news for the European morning trading session 12 Sept 2017
- "Forthcoming measures" by North Korea will make the US suffer the greatest pain it ever had
- EURGBP pops 0.9000 as recent retreat continues
- Perky pound liking the latest UK inflation data
- China's Li says they will not resort to competitive currency devaluation
- New Zealand's National Party increase lead over Labour opposition
- IMF's Lagarde says global economy better than a year ago but horizon clouded
- Italy 2017 GDP forecast raised to 1.4-1.5% vs 1.1% prev
- Forex option contract expiries for today 12 Sept
- Australian regulator says a major problem of home loan fraud in Australia
- Juncker to lay out plans for screening foreign takeovers in EU
- Nikkei 225 closes up 1.18% at 19,776.62
- ForexLive Asia FX news wrap: AUD, NZD, CAD the movers
- UK August CPI mm 0.6% vs 0.5% exp
- France Q2 private sector payrolls final 0.4% vs 0.5% prev
- US August NFIB small business confidence index 105.3 vs 105.0 exp
- Italy Q2 unemployment rate 11.2% vs 11.3% exp
A lively session with UK inflation, general USD demand and better risk sentiment all playing their part.
The pound has continued to enjoy its recent good run and GBPUSD, after holding 1.3150 yesterday has now been up to 1.3282 on a heady combo of stronger inflation data, GBPJPY demand and EURGBP supply. Those latter two pairs have been up to test 146.00 and down to 0.8982 respectively.
Yen weakness has also been notable with risk sentiment better favoured and that's seen USDJPY up to 109.89 with USDCHF also rallying to post 0.9603. EURJPY demand to 131.32 has helped temper some euro losses but not enough to save EURUSD retreating further to 1.1927.
NZD had a sharp spike higher in early trading as the ruling Nationalists showed strongly in the latest election poll and the jump from 0.7224 t0 0.7254 extended to post 0.7321 before running into sellers.
AUDUSD failed into 0.8050 and has retreated while USDCAD has seen steady gains to 1,2124 from 1.2190 on the generally USD-positive tones
Equities opened firmer and have extended those gains, gold failed into $1330 and retreated to $1324 while oil had made steady gains after an early dip.
Data coming up is minimal with the US JOLTS report the stand out. ECB VP Constanacio up to the mic at 13.45 GMT