Forex news from the European trading session - 9 February 2018
News:
- BOE's Vlieghe: If there is less credit headwind to UK economy, then maybe ready for higher rates
- BOE's Vlieghe says that the central bank is doing macro-prudential tightening
- Even more from Vlieghe: UK rate outlook depends on uncertain economic outlook
- OPEC's Barkindo sees 2018 global oil demand rising by 1.6m bpd
- OPEC say oil market expected to balance by end of 2018
- UAE's oil minister: Shale oil isn't a huge distorter of the market
- BOE PRA taking a look at algo trading
- Morgan Stanley sees Europe as an attractive global place of investment this year
- BOE rate hike bets are cooling off
- Bank of Thailand bans banks from trading cryptocurrencies
- European equities on the up despite higher yields
- This week's US inflation report is going to be one to watch
- Goldman Sachs expresses concerns that drivers of higher oil prices are unsustainable
- Trading ideas for the European session 12 Feb
- US 10-year yields continue to creep higher
- More from de Guindos: Efficiency of monetary policy has been a growth factor in Europe
- This morning's Visa data could be a prelude of UK retail sales this Friday
- Westpac says they do not foresee RBNZ to raise OCR until late-2019
- Spain's economy minister says markets are experiencing a correction
- Macquarie says the dollar is to gain further on the back of rising yields
- AUD/USD runs into near-term resistance level, what to watch out for next?
- ForexLive Asia FX news: Calm before the next likely storm
Data:
- China January M2 money supply y/y +8.6% vs +8.2% expected
- Switzerland January CPI mm -0.1% vs -0.2% exp
A steady start to the week after the fun and games of recent sessions. No real lead/clue to be had so we've traded tightly but with oil notably making some gains.
Nothing of note data wise to shake things up but softer CPI saw the swiss franc weaken a little but buyers still lurking despite the SNB's best efforts.
GBPUSD shrugged off a mix of comments from BOE MPC member Vlieghe in a scheduled session at the mic. Uncertainty seemed to be his key theme. Similarly GBPUSD remains uncertain at 1.3852 in a range of 1.3825-75 with EURGBP clinging to 0.8850 after a retreat from 0.8875
EURUSD has slid gently to 1.2255 from 1.2295 pausing for breath around 1.2260-65 while USDJPY recovered from Friday's late lows but been steady between 108.45-75.
AUDUSD, NZDUSD and USDCAD all similarly have seen a contained range as markets/traders wait on fresh clues
Oil has made gains since Friday's tumble and both WTI and Brent have posted rallies of 1.5+% while Gold has drifted lower from $1324 to $1318
Crypto currencies have drifted higher with Bitcoin posted $8765 after holding $8000
No data of note but we do have BOE MPC 's McCafferty up to the mic at 16.30 GMT