Forex news for the European morning trading on 22 Aug 2017
News:
- UK says it wants to end direct ECJ jurisdiction post-Brexit
- I say I say, did you hear the one about the falling pound ?
- JPY and CHF demand again capping core pairs
- Cable fails into 1.2920 again
- Who says forex can't be funny ?
- Japan government sees debt-servicing spending around JPY 23.8trln in FY2018/19 budget request
- USD demand noted as European desks get underway
- Forex option contract expiries for today 22 Aug
- Cryptocurrency Brokers – the Complete Trading Guide
- European equity markets open firmer 22 Aug
- Trading ideas for the European session 22 Aug
- Nikkei 225 closes down -0.05% at 19,383.84
- ForexLive Asia FX news wrap: USD/JPY higher
Data:
- Germany August ZEW current situation 86.7 vs 85.2 exp
- UK July PSNBR GBP -0.8bln vs +0.3bln exp
- UK August CBI trends total orders 13 vs 8 exp
- Switzerland July trade balance CHF 3.51bln vs 2.76bln prev
- Japan July supermarket sales yy 0.0% vs -1.2% prev
A busy little session that has seen USD demand prevail overall but that's not been the whole story.
What started as USD demand morphed into JPY and CHF demand/risk-off plays.
Equities remained in positive territory but oil retreated and combined with sell/resistance areas on USDJPY and (to a lesser extent) USDCHF we've seen caps at 109.47 with 109.50 the start of the 50-60 resistance area I highlighted earlier a couple of times, and 0.9665.
After failing above 1.2900 in Asia again GBPUSD has tested 1.2800-20 support/bids with GBPJPY falling to 140.07.Similarly EURUSD down to 1.1745 from 1,1805 with EURJPY down to 128.35.
GBPUSD
The same pattern can be seen on AUDJPY and NZDJPY sending the core pairs to 0.7898 and 0.7275 respectively.
EURCHF down to 1.1345 on those USDCHF offers and euro supply which is helping to cap EURGBP too above 0.9170.
USDCAD has traded 1.2580-98 with large option expiries at 1.2600 in play and helping to cap despite oil trading a bit softer.
ECB's Constancio speaking at the top of the hour with Canadian retail sales next on the data slate at 12.30 GMT
