Forex trading headlines from the European morning session 1 Sept



In what promises to be a lively few days ahead and following on from a lively end to last week we’ve seen some decent action this morning ahead of the US holiday.

EURUSD had toyed with bids at 1.3120 but despite some weaker than expected PMI data we saw a gradual chew higher to 1.3146 encouraged by cross-buying interest only to run into offers at 1.3150 and we’ve drifted back to 1.3133 as I type. EURJPY has had a look at 137.00 from 136.70 and EURGBP has been back up to 0.7907 from early lows of 0.7890

That low was the result of good GBP buying from the off which saw cable run up from 1.6595 through recent highs of 1.6615 to post 1.6644 after wiping its feet at 1.6625-30. But then weaker mftg PMI saw a drop back to 1.6615 where we’ve hung around since for the most part with other GBP gains similarly undermined

USDJPY has retained a bid above 104.00 on renewed BOJ easing rhetoric and yen-pair buying and we’ve spent most of the session near highs of 104.28. USDCHF has also found bids in the dip on the retreat from a failed attempt at 0.9200 in Asia and mostly been camped around 0.9180-85

AUDUSD, NZDUSD and USDCAD have all enjoyed a quiet morning but also drifted off session and o/n highs.

No US markets today so we’ll either grind down to a halt or enjoy some more fun in thin liquidity.