Forex news for European morning trading on July 10 2017
News:
- ECB says it sees less liquidity in domestic government bond market
- Russia's Siluanov sees oil price of USD60 per barrel as ceiling of recovery
- BOJ quarterly Regional Economic Report - raises assessment for 5 of 9 regions
- Forex option expiries for the 14.00 GMT cut today 10 July
- More option expiries of note this week 11-14 July
- Nikkei 225 closes up +0.76% at 20,080.98
Data:
- German trade balance for May: 22.0bn (expected 18.7bn)
- Eurozone July Sentix investor sentiment 28.3 vs 28.4 exp
The start of another week sees the greenback in positive mood.
USDJPY opened up at 114.15 after further loose money talk from Kuroda saw a rally in Asia but large option expiry interest today between 114.20-30 has put a cap on further advances. Similar story on yen pairs with early demand giving way to sell interest on core pairs.
GBPUSD led the way lower on general USD demand, on-going UK political concerns and EURGBP buy interest and we've seen 1.2857 from 1.2905.
EURUSD didn't need to much pushing to also head lower with option expiries of it own in play and sending the pair to 113.82 from 1.1415.
USDCHF has taken full advantage to climb to 0.9675 from 0.9630 as USD demand and general EUR strength sees EURCHF heading up through 1.1000 for the first time since Sept 2016. Unlikely the SNB involved but can't rule out them taking full advantage to give the pairs a helping hand.
Oil slid further on plentiful supply and traders unimpressed by reports that OPEC might ask Libya and Nigeria to cut output and that's seen USDCAD on the rise from 1.2880 to 1.2931 .. Equities opened in positive territory and mostly held gains.
Little data of note today so we'll see what appetite the NA desks bring to the table.
