Forex news for the European morning trading session 24 Nov 2017
Happy on-going Thanksgiving to our US readers!
News:
- IFO's Fuest says German coalition situation will slow down Brexit
- EU's Juncker says Brexit talks are making progress
- BOE's Tenreyro says November rate hike wasn't premature
- Germany's Steinmeier calls for joint meeting with Merkel and Schulz next week
- OPEC and Russia reported to have outlined a deal on extending current oil supply cuts
- Russia at the top of China's oil buying list again
- ECB's Nouy says NPLs have to be assessed case by case
- Forex option contract expiries for today 24 Nov
- Trading ideas for the European session
- Nikkei 225 closes up +0.12% at 22,550.85
- ForexLive Asia FX news wrap: Yen lower on the session
Data:
- Germany Nov IFO business climate 117.5 vs 116.7 exp
- UK Oct mortgage approvals 40,488 vs 40,650 expected
- Italy Sept industrial orders mm -3.9% vs 5.3% prev
- Switzerland Q3 industrial output yy WDA 8.6% vs 3.2% prev
- Japan (Sep. final) Leading Index 106.4 (prelim was 106.6) Coincident 116.2 (115.8)
While the US cats are away the mice are not so keen to play and we've had another steady session but not without opportunity.
EURUSD has made steady progress and finally chewed through orders/res between 1.1850-60 to post fresh recent highs of 1.1875 before capping. EURGBP posted 0.8923 from 0.8895 and that helped contain GBPUSD rallies below 1.3300 but a move back lower gave excuse for cable to rally to 1.3331 before running into sellers again.
USDJPY has been on the back foot still after failing above 111.50 and retreated to 111.34 while USDCHF has drifted off toward 0.9800 again from 0.9825 but falls tempered by EURCHF demand.
USDCAD started off ok but then has fallen on stronger oil with reports of oil supply cuts being extended and we're down to 1.2710 from 1.12730 as I type.
AUDUSD and NZDUSD first fell then rose with large options in play at 0.7600 and 0.6850
Equities started in uncertain mode but made decent gains led by the DAX now up 0.9%
US markets closing earlier today for long week-end but here's what's on the slate. ECB talking heads in the mix too:
