Forex news for the European morning trading session 12 Dec 2017
News:
- Three reasons why Bitcoin won't be a substitute for gold
- A recap of CBOE Bitcoin futures' first 24 hours
- Bitcoin futures and Bitcoin price movement: Correlation or causation?
- Bitcoin futures premium won't last forever
- Italy to declare state of emergency regarding energy supplies
- Pound retreats on post-data reality check
- BOE: Carney inflation letter to be published in February 2018
- Brent oil hits above $65, touches highest level since June 2015
- Forex option contract expiries for today 12 Dec
- German economy ministry: Sees strong economic growth in 2017
- Joseph Stiglitz: US tax bill the worst I have ever seen
- Moody's: PBOC's increasing use of liquidity facilities will improve monetary management
- USD starting to slip as markets are starting to come alive
- NZD/USD hits session highs, key levels to look out for
- Trading ideas for the European session
- Eurostoxx futures up 0.2% in early European trading
- Asian equities mostly lower on the day
- Nikkei 225 closes down -0.32% at 22,866.17
- ForexLive Asia FX news wrap ... stay tuned for UK inflation data
Data:
- UK November CPI 3.1% vs 3.0% y/y expected
- Germany Dec ZEW current situation 89.3 vs 88.7 exp
- UK Nov PPI output NSA mm 0.3% vs 0.3% exp
- France Q3 non-farm payrolls +0.2% vs +0.3% q/q prior
- Japan Oct tertiary industry activity +0.3% vs +0.2% m/m expected
Overall another lacklustre session as the Fed looms large tomorrow but once again we've seen some GBP action in the wake of inflation data and ongoing Brexit concerns.
P/A summary:
- GBPUSD rallies to 1.3380 from 1.3355 on stronger mm/yy CPI data but core remains unchanged and reality check selling sends the pair back down to 1.3311 before bouncing back
- EURGBP drops to 0.8807 post-data before rallying to test 0.8850
- EURUSD steady around 1.1775 with neutral ZEW data
GBPUSD 15m
- USDCHF had an early dip from 0.9920 to 0.9890 but since rebounded
- USDJPY tightly bound 113.40-55 for the most part
- AUDUSD steady ascent 0.7540 to 0.7580 before capping
- NZDUSD also climbed steadily from 0.6930 to 0.6955 before also capping
- USDCAD drifted down to 1.2820 from 1.2855 helped by firmer oil prices
- WTI and Brent both higher with Brent outstripping to a 2 year wide-gap of $7 on Forties field outtages
- Gold fell from $1246 to $1242 before steadying
- Equities opened a little firmer and held gains
Next data risk US PPI at 13.30 GMT with Draghi up to the mic later at 19.00 GMT
