Forex news for the European morning trading session 20 Nov 2017
News:
- Steinmeier statement now scheduled for 13.30 GMT
- Euro shrugs off German coalition wobbles
- Barnier says UK will lose benefits of the single market post-Brexit
- Mugabe ready to resign say CNN
- Abe says BOJ is conducting appropriate monetary policy
- Forex option contract expiries for today 20 Nov
- Trading ideas for the European session
- Nikkei 225 closes down -0.6% at 22,261.76
- ForexLive Asia FX news wrap: Euro lower s coalition talks collapse in Germany
Data
Euro Asian losses reclaimed as we wait on a statement from German president Steinmeier at 13.30 GMT amid talk that the FDP may yet still back a Merkel minority govt.
Plenty of euro dip demand but with yen sellers also out in force we've seen EURJPY up to 132.40 from 131.40 with USDJPY holding 112.00 and posting 112.22 , EURUSD posting session highs of 1.1809 from 1.1730
Large USDJPY options at 112.00 and 112.30 have kept that pair contained but general yen supply has seen GBPJPY up to 148.85 from 147.85 that helped lift GBPUSD to 1.3280 from 1.3230 despite GBP selling from the EURGBP demand.
GBPJPY 15m
Core pair support also noted in AUDUSD and NZDUSD as AUDJPY and NZDJPY also rallied but tempered by EURAUD and EURNZD gains. Similarly USDCAD has enjoyed support from EURCAD demand but tempered by CADJPY buyers.
USDCHF has also found bids into 0.9880 again with EURCHF finding strong demand around 1.1600 and posting 1.1683
European equities opened softer led by the DAX but those losses were also reversed.
No data to come but hopefully continued opportunities as the geo-political sagas play out.
