Forex news and trading headlines 11 Jan 2016
News:
- UK ministers see the government losing the Supreme Court case - Livesquawk
- Kremlin says it does not have compromising material on Trump or Clinton
- Move over UK data, Carney in focus now
- Turkish lira on the slide again
- New Italian PM Gentiloni is awake after emergency heart surgery
- Russia's Novak to take part in oil output talks in Vienna
- Italy will not need support from the ESM
- German November engineering orders rise by 5.0% yy in real terms
- BOJ's Kuroda says meeting with Abe was a regular one
- Japan's Suga says government and BOJ are watching market moves carefully
- Nikkei 225 closes up +0.33% at 19,364.67
Data:
- UK November visible trade balance GBP -12.163bln vs -11.15bln exp
- November 2016 UK construction output -0.2% vs 0.3% exp m/m
- November 2016 UK industrial production 2.1% vs 0.8% exp m/m
- Spain November industrial output yy SA +3.2% vs 1.0% exp
All eyes may be on the Trump presser at 16.00 GMT but that's not stopped traders and robots having a bit of two-way fun in the meantime.
In essence we've seen the pound under early pressure again not helped by better mftg data given our trade balance worsened . GBPUSD has been down to 1.2096 and EURGBP up to 0.8705 with GBPJPY trading down to 140.60 with USDJPY falling back to test 115.80 support from 116.25 highs.
Buyers reappeared to post 1.2142,0.8654 and 141.30 with USDJPY rallying back through 116.25 and this time testing 116.50 before retreating.
Meanwhile EURUSD has been sliding lower with equities going nowhere in a hurry while oil firming has helped cap USDCAD at 1.3256 tempering general USD demand.
AUDUSD had an early ramp up through 0.7385 offers/res to post 0.7396 finding 0.7400 supply a step too far.
Good two-way business to be had for the intra-day trader and we can expect this to continue.
Coming up: GMT
14.15 Carney at the TSC
15.00 NIESR UK GDP estimate
15.30 US Crude oil inventories
16.00 Trump presser
18.20 Fed's Dudley speaks
