Forex news from the European morning session 7 Oct



Another busy session influenced by data and equity markets

The euro got off to a shaky start as European equities showed early gains and we've seen EURUSD fall from 1.1285 to test support around 1.1220 with EURJPY falling to 134.78 from 135.30.

EURGBP felt the full force of this retreat helped by stronger UK data posted 0.7340 from 0.7390 as the pound had a good morning with cable rising to test offers/res around 1.5310 fro 1.5245. Overall we've seen the pound make some decent gains

USDJPY had demand below 120.00 on firmer Nikkei but rallies have been tempered by EURJPY supply while USDCHF has also seen rallies capped by EURCHF falling to 1.0866 from 1.0900

USDCAD fell to 1.2992 on stronger oil price but large option expiries at 1.3000 casting a shadow and we're back to 1.3008 as I type while AUDUSD similarly has huge expiries at 0.7200 and 0.7250 which has tempered further gains past 0.7200.

NZDUSD has had a steady session rising from 0.6580 before running out of steam around 0.6630

We've seen some decent euro retracement in the past hour or so. Now let's see where the rest of the day takes us