Forex news for the European morning trading session 28 Sept 2017
News:
- BOE's Carney: Monetary policy can not prevent weaker real income growth likely to accompany Brexit
- UK's May says it's up to government to mitigate side effects of BOE policy
- UK's Davis says transition period should be quick to agree once Barnier has mandate to discuss
- EU's Barnier says Brexit talks not there yet in achieving sufficient progress
- ECB's Praet: ECB not talking about exit but talking about recalibration of our measures
- ECB's Hansson says rates to remain low at least while QE is continuing
- German economics institute says ECB should prepare exit from ultra-loose policy
- BOJ's Kuroda says Japan's current economic expansion is highly sustainable
- IMF's Thompson says they see no financial stability concerns at all in Greece
- Japan's Abe wants to develop ties with China across the board
- China final Q2 current account surplus USD 50.9bln vs 52.9bln prelim
- Forex option contract expiries for today 28 Sept
- Trading ideas for the European session
- Nikkei 225 closes up 0.47% at 20,363.11
Data:
- Spain Sept provisional CPI mm 0.2% vs 0.1% exp
- Eurozone Sept consumer confidence final -1.2 as exp
- Germany GFK October consumer confidence 10.8 vs 11.0 exp
- Baden-wuerttemberg Sept CPI mm 0.3% vs 0.1% prev
- North Rhine Westphalia Sept CPI mm 0.1% as prev
- Brandenburg Sept CPI mm 0.2% vs 0.1% prev
- Saxony Sept CPI mm 0.2% as previous
A busy session that's seen USD sellers ultimately prevail as I type but not without some good two-way action along the way.
Lots of p/a to report so check your 5/15m charts but here's the gist
- GBPUSD down to 1.3363 then back to 1.3392 before 1.3350 then 1.3397 then 1.3343 before spike to 1.3426. Keep up at the back
- EURUSD down to 1.1721 x 2 then 1.1751 then 1.1725 then 1.1755 before steady rise to 1.1785
GBPUSD 15m
EURUSD 15m
- USDJPY has been better behaved and after a look above 113.00 again has beat a steady retreat to test 112.70 support
- USDCHF in steady retreat to 0.9725 from 0.9760 but losses tempered by EURCHF demand from 1.1420 again to post 1.1470
- AUDUSD had an early test of 0.7800 having broken down through 0.7825 as metals came lower too but since been back up to look at 0.7830 again as the USD supply returns
- USDCAD had an early push above 1.2500 before retreating to test 1.2460
- NZDUSD continued its retreat to 0.7170 after RBNZ left rates on hold as expected but has since recovered to post 0.7200
- Gold steady rally to $1286 from $1278
- WTI has seen strong gains to $52.85 from $52.00
US data to come includes Q2 GDP prior to which we have German CPI at 12.00 GMT
Fed talking heads George and Fischer at 13.45 GMT
