Forex news for the European morning trading session 17 Oct 2017
News:
- BOE's Carney say monetary policy is not principle instrument for financial stability
- More from Carney: BOE rate hike in coming months may be appropriate
- More from Carney (2): Believes there will be a Brexit transition period
- More from BOE's Tenreyro: MPC far from the point at which we will unwind QE
- BOE's Tenreyro says GBP depreciation has created stronger inflation and weak demand
- More from Ramsden: I wasn't in the majority of MPC members who saw a case for removing stimulus in coming months
- BOE's Ramsden says no QE reduction until bank rate at higher level
- Bloomberg survey shows most economists expect BoE rate hike in November
- Poorest U.K. Families Would Take Biggest Hit From No-Deal Brexit
- ECB's Constancio says monetary policy will continue to keep a very accommodative stance
- Italy sees downside risks to inflation from euro and oil price
- Padoan says Italy's public debt will continue falling
- Moody's say negative outlook on Italian banking system reflects continued fragility of balance sheets
- Peters says no decision made yet on who to back after NZ elections
- Forex option contract expiries for today 17 Oct
- Moody's: Japan's credit strengths remain robust
- BoA/ML: GBP/USD extremely unlikely to achieve progress before Article 50 deadline
- Trading ideas for the European session
- September US Industrial Production data incoming later - more preview!
- ForexLive Asia FX news wrap: EUR/USD lost some ground
Data:
- UK September CPI mm 0.3% vs 0.3% exp
- Eurozone Sept CPI mm 0.4% as expected
- Germany Oct ZEW current situation 87.0 vs 88.5 exp
A busy session for the pound with testimonies to lawmakers failing to impress the GBP bulls.
The grilling of the two newbies Ramsden and Tenreyro brought cautious responses understandably and with Carney giving no further nod to a November rate hike we've seen GBPUSD fall to 1.3198 from 1.3285 EURGBP up to 0.8907 from 0.8860, and GBPJPY down to 148.13 from 149.00 to name but three.
GBPJPY 15m
USDPY has been largely contained by the cross plays with USD demand generally negated by yen demand with EURUSD and EURJPY also on the back foot.
USDCAD has traded tightly 1.2530-50 while AUDUSD has drifted off from 0.7860 to 0.7840. USDCHF and EURCHF both steady around 0.9775 and 1.1500.
NZDUSD fell early on from 0.7180 to 0.7160 on lack of decision from Peters but recovered as we wait on GDT auction result around 13.00 GMT
Here's your data still to come:
