Forex news from the European morning session 11 Nov
ARMISTICE DAY - LEST WE FORGET
News:
- BOJ's Harada sees no need for further policy easing now
- More from Harada: Delay in hitting price target alone will not harm BOJ's credibility
- Japan's Abe will lower corporate taxes more than planned in FY2016
- ECB's Visco says lowering deposit rate will be assessed
- Germany's overall economic performance is solid despite international headwinds
- BOE's Carney says UK has enough domestic strength to overcome foreign weakness
- China's cabinet says it will support increase in imports of popular consumer goods
- Bank of England's Mark Carney: Infrastructure must keep pace with bank development
- BOE business conditions survey sees slower growth than last year
- The best way to complete monetary reform: More from guest economist John Hearn
- Bloomberg poll has China Oct GDP at +6.57%
- Happy Diwali from all at ForexLive
- Trading Ideas - European session 11 Nov
- Do you want to know Deutsche Bank's new reason to short EURUSD?
- Option expiries 10am NY cut today 11 Nov
Data:
- October 2015 UK labour market report claimant count 3.3k vs 1.5K exp
- China industrial production Oct yy +5.6% vs 5.8% exp
- Germany wholesale price index Oct mm -0.4% vs -0.6% prev
- Japan machine tool orders Oct flash -23.1% vs -19.1% prev
- Nikkei 225 closes up +0.1% at 19691.39
Another lacklustre session that has seen traders still waiting for the next big clues
The pound had a little wobble on softer wages data which saw cable down to 1.5142 from earlier highs of 1.5175 but the move was tempered by reasonable jobs data and we're back to 1.5165 as I type
EURGBP rallied through 0.7100 on that pound dip but has since returned from whence it came at 0.7075. Overall the euro has remained on the back foot as ECB easing still casts its shadow. EURUSD has had an steady decline to 1.0724 from 1.0760 and EURJPY down to 132.03 from 132.40
USDJPY had an early rally from 122.95 to 123.15 but has failed to breach offers around 123.20 and tempered by EURJPY sales
USDCAD has seen a steady rise to look at 1.3280 offers/res again after holding 1.3250 while AUDUSD has traded lower to 0.7042 as I type from 0.7065 with large option expiries looming later. NZDUSD similarly has fallen to 0.6547 from 0.6570
So a session offering few new clues or direction so far but opportunities nonetheless