Forex trading headlines from the European morning session 17 Sept
News:
- BOE MPC vote remains at 7-2 to keep rates on hold
- BOE MPC Minutes: Insufficient price pressure to justify rate rise
- French PM Valls says France has lived beyond its means for 40 years
- French econ min Macron says German can do more to help Eurozone recovery
- ECB’s Mersch says securitisation could help collateral usage
- Scottish referendum poll timetable
Data:
- UK jobless claims change Aug -37.2 k vs -30k exp
- Eurozone CPI Aug m/m +0.1% vs +0.1% exp
- Eurozone construction output July m/m 0.0% vs -0.4% prev
- Italian trade surplus July unadj EUR +6.86 bln vs +3.236 bln prev
- US MBA w/w mortgage applications index rises 7.9%
- Swiss ZEW economic expectations Sept -7.7 vs +2.5 prev
- Nikkei closes down -0.14% at 15,888.67
It’s been all about the pound again this morning as traders try and keep their powder dry elsewhere as we wait on US CPI and more importantly the FOMC later
GBPUSD looked supported from the off and we were soon testing good offers at 1.6300-10 before finally breaking higher to post 1.6330 before dipping again only to post 1.6340 after the jobs data then fell again to 1.6288 on softer MPC Minutes.
EURGBP dropped to 0.7933 but since bounced to 0.7960 and it’s been a similar story on pound pairs.
Yen and Swiss pairs have found a bid in a mixed USD bag and this has kept USDJPY and USDCHF perky while EURUSD has also looked supported while finding sellers above 1.2965-70
USDCAD, AUDUSD and NZDUSD have been mostly quiet but seen some cross play influence in a session which has had more than one eye on the main event later
