Forex news for the European morning trading session 16 Oct 2017
News:
- Spain's Rajoy says Puigdemont demand was a step toward Article 155
- Catalan leader Puigdemont says he's ready to start dialogue with Spanish government
- Spain's Saenz says Puigdemont has until Thursday to say he did not declare independence
- Spain's justice minister says response from Catalan leader Puigdemont not valid
- SDP extend power base as it defeats Merkel's CDU in Lower Saxony election
- US Fed's Rosengren says Dec rate hike will probably be appropriate
- UK's May meetings in Brussels part of process in achieving a smooth Brexit
- UK's Johnson says it's time to get on with Brexit negotiations
- ONS revisions in balance of payments data shows a GBP490bln write-down
- New Zealand First Party to continue deliberations on who to back after recent election
- Forex option contract expiries for today 16 Oct
- Trading ideas for the European session
- ForexLive Asia FX news wrap: Oil higher to open the week
Data:
- Eurozone Aug trade balance SA EUR 21.6bln vs 20.2bln exp
- Germany Sept WPI mm 0.6% vs 0.3% prev
- Japan Aug industrial production final mm 2.0% vs 2.1% exp
A session that has failed to ignite markets but provided a bit of opportunity nonetheless.
Political landscape changing in Austria, Merkel getting whipped in the Lower Saxony election, Spain/Catalonia fall out and Brexit all combining to undermine the euro in particular this morning.
Here's your p/a summary:
- EURUSD down to 1.17880 from 1.1810 and spending most of the session around 1.1795
- EURGBP down to 0.8856 from 0.8890 then back to 0.8880
- EURJPY down to 131.74 from 132.20 then retesting 132.00
- USDJPY own to 111.65 from 112.00 then back to 111.85
Euro starting to recover some poise as I type.
- GBPUSD up to 1.3310 from 1.3285 as EURGBP came down but then in retreat in reverse move
- USDCAD up to 1.2545 from 1.2485 amid general USD demand
- AUDUSD steady again between 0.7870-90
- NZDUSD up to 0.7190 from 0.7170 as the NZ election fall out/coalition talks continue
Other markets:
- Oil gently underpinned WTI $52.10 to $52.42, Brent $57.60 to $58.04
- Gold in steady but gently ascent from $1302 to $1305.80
Data calendar light today but there's enough going on to keep things ticking over.
