Forex news for the European morning trading session 3 Oct 2017
RIP Tom Petty 1950-2017
News:
- EU's Juncker says Brexit speeches are not negotiating positions
- EUs Barnier says not yet achieved sufficient progress on divorce issues
- More from Barnier: No one should underestimate the legal challenges of Brexit
- BOE FPC Minutes: See substantial risk of Brexit disruption
- ECB contacted Spanish banks after the Catalan referendum vote
- Russia/OPEC to discuss situation on global oil markets this week
- Forex option contract expiries for today 3 Oct
- Moody's say benefits of Japan sales tax outweigh the negatives
- Nikkei 225 closes up 1.05% at 20,614.07
- Moody's on potential Korea conflict: lower energy demand, liquidity risk
- ForexLive Asia FX news wrap: USD pops
Data:
- Eurozone August PPI mm 0.3% vs 0.1% exp
- UK Markit/CIPS Sept construction PMI 48.1 vs 51.1 exp
- Italy Q2 GDP qq revised down to 0.3%
- Spain Sept mm jobless rises 0.82%
- Australia Sept commodity index SDR yy 18.3% vs 20.8% prev
- Japan Sept consumer confidence index 43.9 vs 43.5 exp
- India Nikkei/IHS/Markit Sept mftg PMI 51.2 as prev
A week that started in such tragic fashion has not got any better as we learn of the untimely passing of Tom Petty from a cardiac arrest, aged just 66.
Market wise it's all been a bit scrappy with, at first, USD demand being replaced by some yen supply that saw USDJPY test recent highs around 113.20 again but also saw GBPUSD up to 1.3287 from 1.3243, EURUSD 1.1748 from 1.1696 and AUDUSD 0.7822 from post-RBA lows of 0.7792
GBPUSD fell back to session lows though helped by soft UK construction PMI and on-going EURGBP demand which has risen further to post 0.8868
EURUSD has large option expiries casting a shadow at 1.1770
USDCAD is currently in retreat as a little bit of USD supply returns and oil steadies and has now fallen to 1.2492 from 1.2525
NZDUSD at 0.7175 has found support around 0.7150 as we wait on the latest GDT auction results around 13.00 GMT
Little by way of data to come but we do have FOMC member Powell speaking at 12.30 GMT
Only one person of note in my mind today though, and sadly we'll not be hearing from him again.
RIP Tom and thank-you.
