Forex news for the European morning trading session 1 Sept 2017



A busy session albeit in tight ranges as traders/bots show understandable fragility on ECB comments and NFP data looming.

The session began with some USD demand but it was soon all eyes on the euro as PMIs and comments from ECB'S Nowotny and Constancio were thrown into the fragile mix.

We've seen EURUSD fall to 1.1893 and a spike to 1.1930 on the second Nowotny "euro rise" comment only to run into option defence and that p/a spill over to EURGBP to post a range of 0.9196-0.9223 but with fickle moves in between.


GBPUSD had an early test of 1.2900 from 1.2930 only to rally and then get an added lift to 1.2935 after better PMI data before retreating to 1.2920 and firming up from there.

USDJPY meanwhile has remained underpinned while going nowhere fast and the same can be said for USDCHF,USDCAD,AUDUSD and NZDUSD.

All focus is on NFPs with large option expiries waiting to play out in the aftermath.