Forex news for the European morning trading session 19 Oct 2017

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Another wild n wacky session in the wonderfully fickle world of forex.

New Zealand got a new PM as First Party leader Peters sides with Labour/Greens and we saw NZD tumble in the process. NZDUSD has been down to 0.7020 from 0.7130 and AUDNZD up to 1.1200 from 110.00

Meanwhile in Spain the govt got no change out of Catalonia's Puigdemont and have announced they will invoke Article 155 to impose direct control. EURUSD at first proved resilient to the expectations but as equities witnessed a decent wobble we saw safe-haven plays being triggered across the board.

Cue USDJPY down to 112.44 from 113.15 sending EURJPY down to 132.46 and EURUSD down to 1.1768. Early euro demand had seen EURGBP up to test 0.8950 and capping cable around 1.3215 pushing it down to 1.3175. Cue awful UK retail sales data and with GBPJPY selling also in play we had a test of 1.3120-30 support before all core pairs found dip demand to recover some poise.

AUDUSD found some support from the AUDNZD demand as well as decent data and gold rally but we've ranged 0.7845-75 while USDCAD has also been caught up in cross play cross fire to trade 1.2440-80

Oil tumbled too as well as equities as the ghosts of 1987's Black Monday came back to haunt but that safe-haven sentiment has seen gold up to $1288 from $1278

Weekly US jobs and latest Philly Fed data to come as well as Fed's George but there's a whole lot more going on out there right now.