Forex news from the European trading session - 29 January 2018
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News:
- ECB's Praet: Transition towards normalisation will begin once inflation is sustainable
- Japan currency chief says FX competition should be avoided in line with G7 agreement
- Japan's Suga: Important to watch currency market moves
- UK's May to set out vision for future relationship with EU in due course
- EU ready to react to any restrictive US trade measures
- Bitcoin falls to day low as support levels give way
- Japanese police said to launch investigation on Coincheck hacking incident - NHK
- Japan financial regulator to conduct inspections on other cryptocurrency exchanges
- Cryptocurrency investors are at risk of a total loss - Deutsche
- SNB declines to talk on FX intervention - report
- Japan PM Abe: Wants to hear Trump's specific thinking on TPP
- Six things to note about the Fed's meeting this week
- ECB's Lautenschlaeger says the Basel III accord must not be watered down
- ECB to accept Luis de Guindos for VP post if there's a consensus - El Mundo
- EUR/GBP closes in on 0.8800 as buyers gain momentum
- China's economy still has problems and hidden dangers
- Six things to note about the Fed's meeting this week
- SNB total sight deposits w.e. 26 January CHF 575.0 bn vs CHF 574.7 bn prior
- US dollar - the comeback kid?
- Yields are looking to be the 'break out' story on the day
- Trading ideas for the European session - 29 Jan
- Yen demand notable as core pairs retreat
- A weak dollar will constrain USD/JPY upside potential - UBS CIO
- Nikkei 225 closes lower by 0.01% at 23,629.34
- ForexLive Asia FX news wrap: Dollar recoups some losses to start the week
Data:
- Germany December import price index m/m +0.3% vs +0.2% expected
- Italy December PPI m/m 0.0% vs +0.4% prior
An interesting start to the week with bonds being sold off, yields rising to new recent highs, and JPY/CHF demand notable in the fragile conditions. Pound also suffering further losses on renewed Brexit concerns and on-going UK govt instability.
Here's your p/a summary:
- GBPUSD down to 1.4057 from 1.414o helped by EURGBP demand/GBPJPY supply. Stops triggered through 1.4100 and 1.4080
- EURUSD down to test 1.2380 support from 1.2430
- EURGBP up to 0.8816 from 0.8773 helped by month-end BUBA demand
- USDJPY fails above 109.00 and returns to post 108.63 before finding new buyers
- USDCHF back down to 0.9350 after an SNB inspired rally to 0.9387
- USDCAD ranging 1.2330-60
- AUDUSD ranging 0.8080-8110
- NZDUSD ranging 0.7320-40
- Oil steady retreat lower. Brent $69.53 from $70.10
- Gold dips to $1342 from $1348
Data coming up:
Speech from ECB's Coeure at 16.00 GMT
