Forex news for European trading on May 22 2017

News:

Data: None of note

Monday malaise? Currency markets were having none of it as the week gets off to a very lively start.

Large option expiries today in many major pairs and it wasn't long before GBPUSD was testing those at 1.2975 from 1.3005 with GPBJPY selling once again a primer mover from 145.00 into 144.00. USDJPY fell too from 111.45 to 111.15 as did EURUSD to 1.1162 from 1.1190 as yen demand prevailed.

Good two-way business then prevailed with USDCAD testing 1.3500 on firmer oil prices and AUDUSD holding its own around 0.7450.

More of the same for a while then came comments from Germany's Merkel and the robots lapped up the euro "too weak" quote to send EUR pairs sharply higher.

EURUSD has posted 1.1246 from 1.1180, EURGBP 0.8645 and EURJPY recovering all the early losses to also post session highs of 125.30

GBPUSD also rallied but capped by EURGBP outpacing and we've clung to 1.3000 since.

WTI has been up to $51.20 from $50.80 and back down again. Brent similarly between $53.85 and $54.15

Gold has been on a steady incline from $1252.50 to $1257.40 just short of the opening Asian highs.

Equities opened mixed and have remained in that mode.

No data of note today but we do some CB talking heads lined up later.