Forex trading headlines from the European morning session 1 November
- UK Markit mftg flash PMI oct 56.00 vs 56.1 exp 56.3 prev
- Swiss PMI oct 54.2 vs 55.5 exp vs 55.2 prev
- Nikkei closes down 0.88% at 14,201.57
- Shanghai comp index closes up 0.37% at 2149.56
- Nissan raises it yen pair forecasts for 2013/14
- RBS says it will severely punish those fx traders found guily of wrong-doing
- What the banks are expecting from the ECB next week
- Happy Diwali !
It’s been steady as she goes this morning as traders and markets understandably try and assess the meaning of yesterday’s euro fall-out, and what that might suggest for the ECB meeting next week.
EURUSD has held onto key support at 1.3500 but failed to make any real headway higher, while euro pairs have seen a similar price action in tight ranges.
GBPUSD had a look below 1.6000 but found the strong support at 1.5980 one step too far for the moment but it’s been looking soft all morning.
USDJPY dipped early on to test 97.80 support but quickly gave up on that and was soon back above 98.00 to post 98.38 so far.
AUDUSD had a rally toward 0.9500 but failed and has traded tightly since.
The calm after the storm then, but it’s Friday and I can’t see things staying so quiet for long.
