Forex trading headlines from the European morning session 2 Oct



It’s been a lively session with far too much to summarize here but here’s the gist.

Pound pressure from the start as we opened on the Asian cable rally to 1.6250 and down we came again, slowly at first then acclerated by dovish BOE comments to test recent key lows around 1.6160 before then triggering stops to 1.6136 excerbated by GBPJPY selling. EURGBP has ploughed a steady path from 0.7790 to test offers/res at 0.7830.

We’ve also seen a wave of JPY buying as Nikkei futures continued to slide which saw USDJPY falling to 108.40, EURJPY to 136.96 and GBPJPY to 175.27 before finding a few buyers and the core pair has bounced to 108.80 again draggin yen pairs with it.

EURUSD has remained supported around 1.2630 after early falls in this mixed up session that saw the US$ all over the shop and EUR pairs too, as traders prepare for the ECB shortly.

AUDUSD and NZDUSD have fallen from Asian highs in a steady retreat while USDCAD has rallied off Asian lows in a steady climb higher before being capped above 1.1130

My summary only tells a fraction of the story but hopefully gives you a decent flavour as we wait now for the Draghster to step up.