Forex and cryptocurrency news from the European morning trading 9 Mar 2018
News:
- US secretary of state says Trump made decision himself to meet with Kim Jong In
- UK says it will work with EU on scope for exemption to US tariffs
- EU and UK both welcome progress on talks between US and North Korea
- Germany's Hardt says the US has made mistakes in US-EU trade relations
- German govt spokesman says that US tariffs only serve economic interests
- Got a question about trade? Why not ask a Nobel laureate?
- Brazil to seek exemption from US trade tariffs, says acting trade minister
- South Korea says US officials responded "positively" to possible tariff waiver
- Turkish presidential adviser says "would of course respond to US steel ruling"
- BOJ's Kuroda says Japan is basically at full employment
- BOJ's Kuroda says that the Japanese economy is better at this point in time
- More from Kuroda: US trade policy is recognised as risk factor to global economy
- BOJ's Kuroda says will make policy adjustments to maintain momentum to 2% inflation target
- German economy minister says Trump's planned tariffs do not conform with WTO norms
- Bitcoin continues to slide so buyers beware
- France's Le Maire says first job for Europe is to discuss impact of US tariffs
- The Fed enters its blackout period tomorrow, here's the remaining speakers today
- US non-farm payrolls preview by the numbers
- FX option expiries for the 15.00 GMT cut - 9 March 2018
- USD/CAD takes a peek below the lower end of this week's range
- Commodity currencies are starting to pull ahead
- Nikkei 225 closes up by 0.47% at 21,469.20
- ForexLive Asia FX news: Tariffs, North Korea, BOJ ... now NFP to come
Data;
- UK visible trade balance Jan GBP - 12.325bln vs -11.9bln exp
- UK January manufacturing production m/m +0.1% vs +0.2% expected
- Germany January trade balance +EUR 17.4bn vs +EUR 18.1bn expected
- Germany January industrial production m/m -0.1% vs +0.6% expected
- Italy January PPI m/m +0.7% vs 0.0% prior
- France January industrial production m/m -2.0% vs -0.3% expected
- Spain January industrial production m/m -2.6% vs 0.0% expected
- France YTD January budget balance -€10.8 bn vs -€67.8 bn prior
A quiet session overall as markets wait on the latest US NFPs and wages data at 13.30 GMT. Bitcoin has fallen again but found support around $8500. Trump and Kim definitely to meet.
USDJPY has been mainly 106.75 stuck right in the middle of large 106.50-107.00 option expiries with yen pairs similarly tightly bound.
EURUSD has also been contained by extensive option interest but drifted to 1.2290 from 1.2310 with EURGBP dipping to 0.8890 from 0.8915 and helping to underpin GBPUSD to post 1.3825 from 1.3810.
USDCHF and EURCHF have both seen some money come off the table
USDCAD has seen a bit more action and yep also has large option contracts in play. Lows of 1.2870 posted from 1.2910 openings. AUDUSD has been pinned around 0.7800 while NZDUSD similarly around 0.7275.
Bitcoin continued it's retreat to test $8500 before finding some dip demand again and heading back up to $9000
All eyes on the US data at 13.30 GMT though.
