Forex news for the European morning trading session 31 Aug 2017
News;
- BOE's Saunders says MPC has tools to respond either way if needed
- More from Saunders: Unwinding of QE would not be first means of tightening policy
- SNB's Maechler says expansionary monetary policy remains necessary
- Le Maire says stronger euro is a concern for French economy
- Euro falls further on reports that ECB policy makers have increasing concern on recent strength
- BOJ's Masai says it would be inappropriate to change inflation target level
- More from Masai: There has been no problem with BOJ's JPY 80trln bond guideline
- Japan's Abe says he has trust in UK after Brexit
- May says UK should be free to sign international trade deals during Brexit transition period
- China's fund managers increase expected equity exposure to 76.9% for next 3 months
- Japan fund managers raise stock holdings in August, trim bonds: Reuters poll
- China says military means are not an option to resolve North Korea issue
- BOJ reduces September 5-10 year JGB buying programme
- Germany's VDMA says engineering orders rose by 10% yy in July
- NZ's Labour party has 2% poll lead over governing National Party
- Forex option contract expiries for today 31 Aug
- Jaitley sees no need for so many state-run banks in India
- Trading ideas for the European session 31 Aug
- Nikkei 225 closes up 0.72% at 19,646.24
- ForexLive Asia FX news wrap: USD edges a little higher still
Data:
- Eurozone August provisional CPI yy 1.5% vs 1.4% exp
- France August provisional CPI mm 0.6% as exp
- Italy August provisional CPI mm 0.3% vs 0.2% exp
- Germany August unemployment change -5k vs -6k exp
- Germany July retail sales mm -1.2% vs -0.6% exp
- China July services trade deficit USD 21.0bln
- Japan July housing starts yy -2.3% vs -0.2% exp
It's been a busy session ( my poor ol' typing fingers bear testimony to that) that has seen the US dollar underpinned and euro undermined but it's not been a case of straight lines.
Early euro demand fuelled by month-end EURGBP buying saw EURUSD up to 1.1900 and EURGBP to 0.9227 before retreating only to post up there again after better than expected EZ CPI.
Once again though we saw sellers happy to jump back in and then came reports that ECB had growing concerns over euro strength and down we came to 1.1846 and 0.9200 so far.
EURUSD 15m
GBPUSD came under early pressure with the EURGBP demand and posted 1.2880 lows but failed to get back above 1.2900 and now posted lows of 1.2860.
USDJPY has been underpinned above 110.40 but failing to break above 110.70 again while USDCHF simi;larly bid overall above 0.9640 but finding 0.9680 a tough level to break, also capped by the EURCHF supply into 1.1480.
AUDUSD and NZDUSD both on the back foot and USDCAD continues its charge higher.
Equities firm again with oil and gold trawling on lows.
Lots of data to follow to throw into the mix with NFPs tomorrow casting a shadow,
