ForexLive European morning news wrap: Euro demand notable in a lacklustre session

Author: Mike Paterson | Category: News

Forex news for the European morning trading on 8 Aug 2017



Another quiet session as Summer holiday markets set their traditionally lethargic tone plus traders/bots have little new impetus to work on.

Standouts in an otherwise lacklustre session have been EURGBP up to new 11 month highs of 0.9076 having chewed through good resistance/offers at 0.9065, and AUDUSD moving up steadily  0.7943 from 0.7910 with large option expiry interest at 0.7950 in play.

That EURGB[P demand has helped cap cable and the pair has been in gentle retreat all session down to 1.3023 as I type from 1.3042. with EURUSD pinned around 1.1810

USDJPY has mostly had the morning off around 110.50 but is starting to dip as I type while UJSDCHF has been steady around 0.9725 as EURCHF holds above 1.1475 but fails to breach 1.1500.

USDCAD has been contained between 1.2650-80 while NZDUSD has traded 0.7355-70

Equities opened softer and have remained so while oil has nudged lower through the latter part of the session after an early rally.   

Little of note on the data slate today so far but coming up are Canadian housing starts at 12.15 GMT and US  JOLTS job openings at 14.00 GMT.

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