Forex news for the European morning trading session 31 Oct 2017
Happy Halloween one and all
News:
- Russia denies it interfered with US presidential election
- Catalan leader Puigdemont to hold press conference from Brussels
- ECB's Visco says they will remain very accommodative after QE recalibration
- BOE warns that UK financial sector could lose 75,000 jobs after Brexit
- BOJ's Kuroda says downside risks to prices are larger
- More from Kuroda: Abnormal yen rises that deviate from fundamentals would hurt economy
- More from Kuroda (2): Nonsense to tighten policy now to deal with future risk
- BOJ to mantain current pace of bond buys in November
- SNB 2017 9-month profits CHF 33.7bln
- Forex option contract expiries for today 31 Oct
- Trading ideas for the European session
- Stay tuned for Wednesday's NZ employment report - preview
- Canadian data due today - preview of August GDP
- More Australian politics - Senate President thinks he is a dual citizen, may resign
- Nikkei 225 closes unchanged at 22,011.61
- ForexLive Asia FX news wrap: BOJ day but kiwi steals the limelight
Data:
- Eurozone Oct CPI estimate yy 1.4% vs 1.5% exp ( GDP and Unemployment data here too)
- France Oct CPI flash mm 0.1% as exp
- France Q3 GDP flash qq 0.5% as exp
- Italian Oct provisional inflation data showing softer tones
- Italy Sept unemployment rate provisional 11.1% as expected
- China Sept services trade deficit USD 22.2bln
- Japan Sept construction orders yy -11.6% vs -10.6% prev
It may be Halloween but there's been nothing too scary about the markets so far. No Germany (Reformation Day holiday) might have had some impact but nothing of note.
EUR pairs have seen mixed fortunes amid a raft of data that saw EZ CPI softer but GDP and jobless a tad better.
EURUSD had an early move up to test 1.1650 from 1.1625 only to drop back there into/on the CPI data and we've been steady since. Options at 1.1600 set to support.
EURUSD 15m
EURGBP had a look at 0.8820-30 offers/res but gave up and dropped back to post 0.8794 before also steadying while EURJPY has nudged its way up to 131.86 from 131.50 as USDJPY survived a look below 113.00 to post 113.43 so far. Option expiry demand also notable.
The EURGBP supply has helped underpin GBPUSD which had a look below 1.3200 but has since been steady around 1.3215 after the rally failed at 1.3224.
General USD demand has seen USDCHF rally to 0.9995 from 0.9965 but once again failing to get back above parity while EURCHF has found good support into 1.1580 and posted 1.1624.
EURCHF 15m
USDCAD has also enjoyed the greenback grabbing to post 1.2855 from 1.2825.AUDUSD failed above 0.7690 and has dropped back to 0.7660 as I type while NZDUSD has drifted back to 0.6840 from 0.6865
Gold has dropped to $1273 from $1278 while oil prices have been ranging with WTI down$54.05 then up to $54.35 only to retreat all the way back.
Canadian GDP the data highlight coming up at 12.30 GMT
