Forex news for the European morning trading session 30 Nov 2017
News:
- Ireland has seen no bespoke deal yet from UK
- ECB's Praet: Monetary policy is not "the only game in town"
- Euro demand in the dips helps cap cable
- CAD under pressure still as OPEC meeting gets underway
- Saudi Arabia expects everyone to implement output cut extension
- Even more from Harada: Personally feel the need to persist with 2% inflation
- Forex option contract expiries for today 30 Nov
- Spain's Q4 2017 GDP likely to be same as Q3
- ECB to shut asset purchase programme by end-2018 say economists
- Trading ideas for the European session
- Fitch says misconduct enquiry adds to challenges for Aussie banks
- Nikkei 225 closes up +0.57% at 22,724.96
- Forexlive Asia-Pacific FX news wrap: Markets continue to cheer the pound
Data:
- Eurozone Nov CPI estimate yy 1.5% vs 1.6% expected
- Germany Nov unemployment change -18k vs -10k exp
- France Nov CPI mm provisional 0.1% as expected
- Italy Nov CPI yy provisional 0.9% vs 1.1% exp
- Germany Oct retail sales mm -1.2% vs 0.3% exp
- UK Nationwide Nov HPI mm 0.1% as expected
- Spain Q3 GDP final qq 0.8% as expected
- Switzerland Q3 GDP qq 0.6% as expected
- Switzerland Oct retail sales YY -3.0% vs 0.5% prev
- Switzerland Nov KOF leading indicator 110.3 vs 109.7 exp
A busy session that's provided good two-way trading opportunities across a wide range of pairs
GBPUSD continued to look underpinned in early trading having posted 1.3480 Asian highs but decent sell interest/res up there saw it drift off to test 1.3440 support area before rallying to 1.3460. The move lower was helped by EURGBP finding a base below 0.8780 after falling from 0.8815 in the wake of softer EZ data.
EURUSD fell through option-related support around 1.1840 to post 1.1809 only to bounce back to post 1.1844 as I type .
EURUSD 15m
USDJPY made early gains to 112.48 from 112.10 but ran into sell interest and retreated while USDCHF similarly found sellers around 0.9880.
USDCAD continued it rise higher to post 1.2903 as oil prices retreated again but then capped as talk of an extended deal circulated from today's OPEC meeting, still to be confirmed though.
AUDUSD and NZDUSD have both remained on the back foot.
Data coming up at 12.30 to throw in the mix plus month-end flows at the afternoon fix at 16.00 GMT
