Forex news from the European morning session 30 Sept



Phew! Bring me that extra large ice bucket for my typing fingers!

The story of the morning is firmer equities again giving the euro a kick lower as traders reverse positions plus softer Eurozone inflation data and we've seen EURUSD down to 1.1202 again from 1.1240 while EURGBP has come down on a double whammy of stronger UK current account data ( shrugging off weaker Q2 YY GDP revision) and EU subsidy payments going though for UK farmers that I highlighted yesterday.

EURGBP has now posted lows of 0.7367 having first held 0.7400 then 0.7380 and that supply has given cable a lift above 1.5200 only to fail again

EURJPY has fared a little better as USDJPY rallied to 120.35 after finally breaking back up through 120.00 in early trading but offers into 135.00 added to the general euro weakness

EURCHF has found support above 1.0900 but similarly has still a big resistance area above 1.0950 and this is keeping USDCHF fairly tight too

USDCAD has chewed through 1.3400 bids on firmer oil price but ran into demand at 1.3385 as the latter capped out while AUDUSD has found good demand at 0.6980 again but still can't get above 0.7050.

NZDUSD is still finding 0.6400 a step too far but with good demand at 0.6360 once again.

Fed's Dudley and US ADP jobs change coming up then Canadian GDP to keep things ticking over nicely