Forex news for the European morning trading session 17 Nov 2017

News:

Data:

A lively morning that's seen an up n down journey for the pound, on-going yen demand and further AUD and NZD losses.

It's been a real mixed bag of reason with yen demand, option expiry interest, Brexit fragility and good ol' fashioned natural order interest all playing out.

GBPUSD had triggered stops through 1.3210 in Asia and headed up further early on to test 1.3250 only to retreat back round 1.3230. Another attempt followed then another a little higher at 1.3260 but decent sell interest that I highlighted along with EURGBP demand around 0.8900 ,plus some natural GBPJPY sell interest all combined to send pound longs scuttling and we've seen a test of 1.3180 support/demand, 0.8940 and 148.60 in the GBP retreat.

GBPUSD

That yen demand has put a lid on USDJPY rallies at 112.65 and an AUDJPY option expiry at 85.50 lent supply to core pairs, helping to drive AUDUSD down to 0.7542 from 0.7610. NZDUSD has also continued its retreat from 0.6880 to post 0.6780.

EURUSD meanwhile has been caught in the cross play crossfire finding support into 1.1780 and offers above 1.1800 with a few option expiries helping to contain too.

USDCHF and EURCHF both saw dips again but overall remain underpinned with SNB never too far away it seems.

USDCAD headed up from 1.2720 to 1.2765 largely on CADJPY supply and thus shrugging off oil gains.

  • Equities started on the back foot but have recovered losses to post gains
  • Gold has been underpinned at $1281 but failed above $1285
  • Oil has been on a steady incline

Not a lot of data of note today but here's what's coming up.