ForexLive morning news wrap: Another up, down and up session to herald the new month

Author: Mike Paterson | Category: News

Forex news for the European morning trading session 1 Dec 2017

News:
Data:
The start of a new month and the pattern is the same as seen in recent sessions. Mixed, fragile and lively with traders still scratching their heads.

EURUSD and GBPUSD had both had another look at 1.1930 and 1.3550 in Asia but once again ran out of puff and we've since been back to 1.1883 and 1.3480 in a rinse and repeat play that has produced a few pips lately for those not too greedy or ambitious.

                                                         GBPUSD 15m
                                                  EURUSD 15m
EURGBP had a quick look at 0.8800 early doors but then spiked up to 0.8835 before retreating back in equal time and as usual those moves have had the inverse impact on GBPUSD.

Final EZ area PMI data lent little support as the German coalition saga played out to the extent that the DAX fell to 9-week lows.

USDJPY remains underpinned but some option expiry interest around 112.65 helping to cap while USDCAD also has interest at 1.2850 again and that's proved a good support point sending the pair back to 1.2880 despite oil firming.

USDCHF has traded down to 0.9816 from 0.9835 but also has option-led support at 0.9800 helping to put a bid under the pair and EURCHF which has also noted losses.

AUDUSD found some support into 0.7550 again after failing at 0.7600 again in Asia while NZDUSD has made gains from 0.6820 to 0.6857.

A busy data/Fed head slate on its way to throw into the fragile mix.


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