Forex news for the European morning trading session 7 Sept 2017
News:
- North Korea says US actions are spurring it to beef up its defensive nuclear weapons programme
- Putin says North Korea will not stop nuclear development programme
- ECB to announce monetary policy decisions at 11.45 GMT
- EU says it's ready 24-7 to engage with UK on Brexit
- More previews - Its European Central Bank day: ECB statement & Draghi news conference
- EUR: The return of Draghi’s EUR 'headache'; what's the trade? - Credit Agricole
- Nabiullina says Russian central bank will discuss rate cut of 35-50bps at 15 Sept meeting
- Riksbank's Ingves say it's important SEK doesn't rise too fast
- China FX reserves end-Aug USD 3.092trln vs 3.081trln prev
- Forex option contract expiries for today 7 Sept
- Japan's Miyazawa says tax talks based on raising sales tax in 2019
- Latest poll sees New Zealand's Labour Party maintain lead over ruling National Party
- Switzerland Aug foreign currency reserves CHF 716.7bln vs 714.9bln
- Australia August foreign reserves AUD 76.3bln VS 74.7bln prev
- Trading ideas for the European session 7 Sept
- Nikkei 225 closes up 0.2% at 19,396.52
- ForexLive Asia FX news wrap: Another NK induced USD/JPY wobble
Data:
- Eurozone Q2 GDP final qq SA 0.6% as exp
- Germany July industrial production mm SA 0.0% vs 0.5% exp
- UK August HPI mm 1.1% vs 0.2% exp
- France July trade balance EUR -5.968bln vs -4.882bln prev
- Japan July leading index CI provisional 105.0 vs 105.1 exp
A skittish session understandably with bots and traders poised for action as the ECB prepares to deliver its latest decision.
A generally softer few hours for the greenback with USDJPY and USDCHF both struggling to make gains above 109.10 and 0.9580 and then retreating again to 108.83 and 0.9512
That's seen EURUSD rise to 1.1995, GBPUSD to 1.3096 and AUDUSD to 0.8025 with the euro generally better bid on increased expectations that Draghi & Co may yet have hawkish tendencies today.
Markets rushed to buy a few euros on a Reuters headline that said mon pol decisions will be announced after the usual time of 11.45 GMT but that was then corrected to say usual time. EUR pairs retreated a little only to find fresh legs and head higher again.
EURGBP demand early on helped capped GBPUSD but that p/a has since reversed. USDCAD has remained on the back foot and fallen to 1.2180.
Gold has had a good morning as risk-off sentiment mostly prevails and that's helped underpin AUD while oil has had an up n down morning with WTI returning to from whence it came.
WTI 15m
Equities opened on the foot and have added to those early gains. Currently:
- FTSE +0.55% 7393.48
- DAX 0.96% 12363.60
- CAC40 0.9% 5146.06
Apart from the ECB we have some data out of the US/Canada and a few option expiries in play to also keep in mind.
