Forex news for European morning trading on June 22 2017
News:
- UK's Hammond says he and government colleagues agree on type of Brexit needed
- DUP's Donaldson says chances of a deal with May are good
- ECB's Praet says UK Brexit is a major mistake
- BOJ's Iwata says oil prices may fluctuate but likely to move up as a trend
- USDJPY nudges higher as 111.00-10 option expiry interest casts a shadow
- ECB says data points to solid Eurozone economic growth in Q2
- Macron says stronger Eurozone integration needed
- Norway keeps key interest rate on hold at 0.5%
- Norges Bank governor Olsen says krone likely to appreciate in coming months
- Japan government raises economic assessment for first time since December
- France manufacturing confidence falls in June reading
- Forex option expiries for the 10am New York cut 22 June
- Nikkei 225 closes down -0.14% at 20,110.51
Data:
- UK CBI June industrial trends orders 16 vs 7 exp
- Switzerland May trade balance CHF 3.4bln vs 1.96bln previous
A steady session albeit one that's produced a little bit of opportunity in contained ranges.
GBPUSD had an early look higher at 1.2685 from 1.2665 as EURGBP fell from 0.8822 to test 0.8800-05 support area only for both pairs to retreat to 1.2658 and 0.8828 . Moves since have been muted inside that range.
USDJPY continued its fall in Asia and we opened around 111.15 from 111.35 Asian highs. Large option expiry interest between 111.00-10 drew the pair lower to test 111.00 but buy side prevailed and we've been back up to 111.30.
EURUSD has once again been contained, this time around 1.1165, by a combination of cross play crossfire and large expiries while USDCHF found support into 0.9700 again but fails to rally too far.
Equities opened softer and have remained so although some further losses have been trimmed.
AUDUSD has drifted a little lower to 0.7538 after failing to get back above 0.7560. USDCAD dipped into 1.3300 as oil prices firmed but the level has held so far. Canadian retail sales the data risk at 12.30 GMT
Also out at 12.30 GMT is the weekly US jobless claims report with US Fed's Powell speaking again at 14.00 GMT. Mexico make their interest rate decision at 18.00 GMT
