Forex news from the European trading session - 30 January 2018
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News:
- BOF's Villeroy says Bitcoin is "a purely speculative asset"
- Remember, there's no such thing as a free lunch - even with cryptocurrencies
- ATO the next in line among regulators to play catch-up on taxing cryptocurrencies
- Samsung said to have started producing chips for Bitcoin mining - report
- German government lifts 2018 inflation forecast to 1.7%
- Pound feeling some love as market awaits latest testimony from Carney
- Dollar pares gains on the day, nears the bottom of the pack
- FX option expiries for the 10am NY cut - 30 Jan 2018
- Stocks aren't the only thing lower on the day...
- The future looks bleak for Switzerland's quartz market
- A familiar pattern is starting to develop in the currency market
- This is one chart yen traders need to be aware of
- S&P affirms New Zealand ratings, says outlook stable
- Trading ideas for the European session - 30 Jan
- Mike Pompeo expects Russia to target the US mid-term elections - BBC
- Sentix data shows current probability of Eurozone breaking up is at its lowest
- Nikkei 225 closes lower by 1.43% at 23,291.97
- ForexLive Asia FX news: USD and UST yields, both up
Data:
- Eurozone Q4 GDP SA provisional 0.6% vs 0.6% exp
- Eurozone January consumer confidence 1.3 vs 1.3 prelim
- North Rhine Westphalia January CPI m/m -0.6% vs +0.5% prior
- Brandenburg Jan CPI mm -0.5% vs +0.6% prev
- France Q4 preliminary GDP q/q +0.6% vs +0.6% expected
- Saxony Jan CPI mm -0.8% vs 0.6% prev
- UK Dec mortgage approvals 61.0 k vs 63.5k exp
- Spain Q4 preliminary GDP q/q +0.7% vs +0.7% expected
- Italy January business confidence 109.9 vs 110.3 expected
- France December consumer spending m/m -1.2% vs -0.1% expected
- Switzerland Dec trade balance CHF 2.63 bn vs CHF 2.63 bn prior
- Switzerland Jan KOF leading indicator 106.9 vs 110.8 expected
A lively session that began with yen and swiss franc demand driving core pairs lower amid wobbly equity markets again only for a rapid turnaround and been underpinned since.
Consult your charts for all the p/a variables so far but here's a summary:
- GBPUSD down to 1.3980 from 1.4030 helped by GBPJPY supply before reversing and posting 1.4137
- EURUSD down to test 1.2330 support from 1.2350 then rapid surge to 1.2380 before taking out offers/res into 1.2400 and posting 1.2442
- EURGBP down to 0.8795 from 0.8834
- USDJPY down to 108.60 on yen demand after failing around 109.00 and lows of 108.50 as USD supply prevails
- USDCHF back down to 0.9313 after failing into 0.9400 again. CHF safe-haven demand in play.
- USDCAD slides to 1.2310 from 1.2375
- AUDUSD rallies to 0.8110 from 0.8045
- NZDUSD rallies to 0.7345 from 0.7280
- Oil finding a few buyers after decent dip yesterday
- Gold rallies on wobbly market sentiment/USD sales to post $1346 from $1336
German CPI at the top of the hour but no real surprises in store given the regional data already out. BOE gov Carney and ECB's Mersch both up to the mic later.
