Forex news for the European morning trading session 18 Oct 2017

News:

Data:

A busy session for GBP pairs as the UK wages data flattered to deceive but the main theme was steady USD demand returning with US treasuries making solid gains.

GBPUSD opened up around 1.3180 and gathered a gentle bid into the wages and jobs data release where a stronger wages headline sent it to 1.3218 in rapid time only to fall back to 1.3175 equally as rapidly as real wages showed an inherent weakness and thus giving the BOE ongoing food for thought on rate hikes.

We've since been down on a stop hunt through 1.3150 to post 1.3141 only to bounce back to 1.3185 as I type. EURGBP had a dip to 0.8895 from 0.8925 only to return from whence it came.

GBPUSD 5m

EURUSD has been down to 1.1730 before bouncing back to 1.1750 as USDJPY fails to breach 112.80 after a move up from 112.25.

NZDUSD had an early dip from 0.7160 to 0.7130 on the ongoing election uncertainty and has since been down to 0.71230 but has recovered some poise.

USDCAD found support at 1.2500 but ran into offer/res at 1.2540 while AUDUSD fell from 0.7850 to test 0.7820 but since moved up to 0.7835

Oil steady, equities firmer but gold has retreated to post $1280 from $1286.

Data/talking heads to come: