Forex news for the European morning trading session 10 Oct 2017
News:
- Catalan president Puigdemont reported to have called press conference for 11.00 GMT
- North Korea tells Russia it has a ballistic missile with a range of 3000km
- UK's OBR to cut forecasts for potential productivity over the next 5 years
- EU Commission says timing of Brexit deal depends on UK availability
- BAE Systems to lay off up to 2000 workers
- Japan's Abe says it's too early to talk about exit from BOJ policy
- BOJ raises economic assessment in 4 out of 9 regions
- BOJ Osaka note some upward price pressure but consumers still trying to save on cost of daily goods
- OPEC see global oil demand at 1.45mln bpd in 2017
- More from Barkindo: Seen massive drawdown from oil stocks in last few months
- Forex option contract expiries for today 10 Oct
- Trading ideas for the European session
- ForexLive Asia FX news wrap: USD a little lower almost across the board
Data:
- UK Aug industrial production mm 0.2% vs 0.2% exp
- UK Aug visible trade deficit GBP - 14.245bln vs -11.15bln exp
- Germany Aug trade balance EUR 20.0bln vs 19.5bln exp
- France Aug industrial production mm -0.3% vs 0.4% exp
- Italy Aug industrial production mm 1.2% vs 0.1% exp
- Switzerland Sept unemployment rate SA 3.1% vs 3.2% exp
- Japan Sept economy watchers survey current view SA 51.3 vs 50.2 exp
Here are your headers from a busy session that's seen good albeit scrappy opportunities with some blink-and-you-miss-it moves in tight ranges.
Traders/bots are skittish on the Catalonia unknowns plus the ongoing Brexit and US/UK rate hike conjecture to name just a few areas of concern/volatility.
P/A summary:
- GBPUSD generally underpinned and tested the sell interest between 1.3180-00 helped by better UK production data . Quick pop to 1.3204 but then retreat into 1.3180 again
- EURUSD found support into 1.1760 and rallied to post 1.1807 taking out a few stops into 1.1800 before falling back below 1.1780 and finding fresh demand
- USDJPY opened up around 112.70 but has made stead losses down to 112.27 on fresh yen safe-haven demand and general USD supply
USDJPY 15m
- USDCHF has been tightly bound but in gentle decline from 0.9790 to 0.9760 with EURCHF also retreating to 1.1510 from 1.1526
- AUDUSD failed into 0.7800 from 0.7780 and ranged between the two levels
- USDCAD had traded 1.2510-30 in Asia but we've now had a test of 1.2500 and stayed 00-20 as oil firms
- NZDUSD traded 0.7060-80
- Gold has made steady gains from $1286 to $1292
- Oil also has rallied on hawkish talk from OPEC re oil output/demand with WTI climbing from $49.80 to $50.56.
Euro/market risk event at 16.00 GMT with the planned address by Catalonian president amid talk of independence.
Data calendar here