Forex trading headlines from the European morning session 9 September
- Syria: Russia and Syria urge US to convene peace talks not take military action
- UK’s Osborne says UK economy has “turned the corner” Key-note speech here
- Eurozone sentix investor confidence index august +6.5% vs -2.8% prev
- Greece deflates for 6th month in a row august -1.7% vs -0.7%
- Japanese consumer confidence august 43 vs 44.3 prev
- Japanese economy watchers poll august 51.2 vs 52.3
- Bank of France sees Q3 GDP +0.2% vs +0.1% prev
- Swiss unemployment rate august unadj +3% as exp/prev
- Swiss retail sales august +0.8% vs +2.3% prev
- OECD monthly indicators show a divergence in global growth
- GBP seeing support from Suntory-GSK deal
- Nikkei closes up 2.48% at 14,205.23
- Shanghai comp index closes up 3.39% at 2212.52
- US investors pile into European equities
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.