Forex trading headlines from the European morning session 9 September

After the NFP lottery of Friday traders have unsurprisingly chosen to keep their powder mostly dry this morning in what has generally been a USD-negative session.

USDJPY has fallen back from Asian highs of 100.11 posting to test a new batch of buying interest at 99.35 dragging yen pairs back with it. Rallies since have lacked any follow-through.

EURUSD got a lift from better than expected sentix index data but has so far failed to break up through 1.3200 where strong sell interest lurks at 1.3220-30 . Most of the past few hours has been spent 1.3185-95.

Similarly GBPUSD has found some good support and has chewed through decent-size sell interest at 1.5680-85 but needing fresh impetus to break higher. EURGBP saw early selling from fund names down to 0.8411 to where we’ve returned having popped back above 0.8420 on the euro’s data-led rally.

AUD pairs have had a mixed morning with AUDUSD overall well-wanted but failing to clear sell interest between 0.9230-50.

The loonie had a decent morning with USDCAD edging down to 1.0380 but then running out of steam.

So, enough opportunity to make a few pips but nothing to set the pulses racing. Many pairs are delicately poised though as we head into the next session so let’s hope for a break or two to stir things up.