Forex news from the European trading session - 24 January 2018
Featured article: Bitcoin: Volatility, fair price and speculations
News:
- Mnuchin: A weaker dollar is good for the US
- USD falls again after Mnuchin says weaker is better
- UK's Davis says he expects Brexit divorce bill to be paid during transition period
- Cryptocurrency exchange Coinbase booked $1 billion in revenue last year
- Japanese authorities not keen on cryptocurrency futures just yet
- Davis: Govt may publish a position paper on financial services
- UK's Fox: Open to some form of customs union with the EU
- More from Davis: Expects agreement on transition period before the end of March
- Wilbur Ross: Recent trade action due to inappropriate behaviour of trading partners
- More from Wilbur Ross: There will be more tariff measures to come
- ECB's Draghi: APP have not led to statistically significant euro exchange rate movements
- Russia energy minister: Current oil prices backed by fundamentals
- WTI crude still consolidating just under $65 per barrel
- JP Morgan the latest among major firms to announce pay rise
- Mizuho's CEO says he sees 'couple more years' of BOJ easing
- Global economy to expand 3.7% in 2018 - Reuters poll
- Eurogroup's Centeno: Things will continue to look good in Europe
- Staying above 0.8000 is a good platform for AUD/USD bulls to build on
- USD extends decline on the day as dollar index cracks below 90.00
- Trading ideas for the European session 24 Jan
- 12 camels disqualified from Saudi “camel beauty contest” for Botox use
- Nikkei 225 closes down by 0.76% at 23,940.78
- ForexLive Asia FX news wrap: USD/JPY (finally) drops under 110
Data:
- UK November average weekly earnings 3m/y +2.5% vs +2.5% expected
- Eurozone January manufacturing PMI 59.6 vs 60.3 expected
- Germany January manufacturing PMI 61.2 vs 63.0 expected
- France January manufacturing PMI 58.1 vs 58.6 expected
- Japan Nov final leading indicator index 108.3 vs 108.6 prelim
A busy session that's seen further declines for the US dollar given further impetus after Mnuchin said a weaker greenback would be welcome. Bitcoin/crypto currencies have enjoyed a few gains with the former rallying to $11400 after holding $10500
GBPUSD has lead the way with gains to 1.4152 from 1.4020 helped by softer Brexit talk again which has helped give the pound decent gains overall and against the yen. GBPJPY has risen to 155.11 despite USDJPY still being on the back foot and posting lows of 109.39 from 110.10
EURUSD has rallied to 1.2356 but euro gains in general have been tempered by the shadows cast by ECB meeting tomorrow and ongoing German coalition concerns.
AUDUSD and NZDUSD have taken good advantage of the USD decline to post 0.8075 and 0.7411 while USDCAD has been down to 1.2332 from 1.2410. Large-ish options at 1.2350 in play too.
UK wages/jobs and Eurozone PMI data had little impact given the bigger picture currently being played out.
Oil has found buyers again after yesterday's rally while gold has also made steady advances to post $1351 from $1342
Data coming up:
