Trading wrap for the European session 10 May 2018
- UK's PM Theresa May condemn's Iran's attack on Israel.
- EUR/USD: 2.4bln option expiry at 1.1900
- Malaysian Central Bank: confident economy will grow.
- Italy's 5-star league statement: expecting to finalise things shortly
- BOE: buying time to see if data turns around
- Carney can't get too dovish: good news for the pound
- ING's take on the BOE meeting at 1200GMT: All in the vote
- UK ONS on UK data release
- UK March manufacturing production m/m -0.1% vs -0.2% expected
- UK March trade balance GBP -12.29bln vs 11.25 bln expected
- USD/JPY head towards 110 level
- BT falls 9%, most since 2017
- Italy March Industrial production data SA M/M 1.2% vs 0.4% expected
- Forget about the BOE, it's all about UK data at the end of the day
- Chart in focus NZD/CAD
- Weakest and strongest currencies against USD
- Trump says his proudest achievement will be when the entire Korean peninsula is denuclearised
- Five Star Movement believes it might need "a few more days" to form government with Lega
- European equities open with a mixed picture
- RBS opens 6% higher after settlement agreed with US authorities
- USD/JPY up to session high of 109.93, eyes another test of 110.00
- BT CEO: Two thirds of job cuts will be UK based
- Oil to move China's CPI a little, but not a lot
- Trading ideas for the European session 10 May 2018
- NZD/USD extends decline, closes in on 0.6900
- British Telecom: Cutting 13,000 roles
- Royal Bank of Scotland to pay civil cash penalty: US settlement reached
- Eurostoxx futures +0.3% in early European trading
- Nikkei 225 closes higher by 0.39% at 22,497.18
- Kenyan dam burst: 'huge destruction' reported
- Preview: US April CPI data out later today at 1230 GMT
- Three Chinese industries most likely to benefit from blockchain
- Yields continue to be the bane of the Australian dollar
- RBNZ's Orr says NZD is not unusually high or low
- Japan April economy watchers survey current conditions 49.0 vs 49.0 expected
Market data
- FTSE 100 -0.32% at 7638.35
- DXY -0.20% at 92.85
- US WTI Crude +0.59% at 71.57
- Bitcoin +0.65% at 9340
The session has been pretty calm with a lot of attention focusing ahead on the BOE rate meeting and press conference afterwards. The GBP has had data releases from on trade balance and manufacturing data too. There was no string reactions in the GBP as traders look ahead to 1200GMT.
In Europe, there was some industrial data out of Italy that surprised to the upside , but nothing to alter the larger picture that Q1 has been poor for Europe. Eur is still a sell own rallies.
Oil prices were continually supported during the session with all attempts at moving lower being bought. Cad remained supported through the session and was the strongest currency on the day. NZD was the weakest after the RBNZ dovish hold. There was no major reaction to that in the London session, but bearish sentiment is in the market and NZD is going to be offered all day, so sell the NZD rallies.Iran's attacks on Israel has kept markets subdued as a sensitive and nervous time after the Trump withdrawal from the Iran nuclear deal.
The strongest currency has been the CAD and the weakest has been the NZD against the US dollar today. Here are the others as well.
