Forex news for the European morning trading session 4 Dec 2017
News:
- UK's May says good progress being made in Brexit talks but more needs to be agreed
- EU's Verhofstadt says Brexit deal chances at 50-50
- Ireland's McEntee: We have made lots of progress on border issue over the weekend
- What you need to know about UK PM May's lunch date with EC president Juncker
- USD/CAD surrenders gains, falls to session lows
- Cable finding some support in the wake of dollar strength
- Passing of US tax bill isn't just giving a boost to US yields
- SPD leadership unanimously supports proposal to enter talks with Merkel's Conservatives
- Saudi Arabia's Al-Falih says OPEC not planning to flood the oil market
- BOF's Villeroy confident that Basel III agreement will be reached this week
- Forex option contract expiries for today 4 Dec
- SNB total sight deposits w.e. 1 Dec CHF 576.78 bln vs 577.54 bln prior week
- German Oct engineering orders +9% in real terms
- USD continues to push higher on the day
- Quick snapshot of the day's top performer thus far
- Nikkei 225 closes down -0.49% at 22,707.16
- Forexlive Asia-Pacific news wrap: Dollar off to a good start to the trading week on tax reform
Data:
- Eurozone October PPI +0.4% vs +0.3% m/m expected
- UK Markit/CIPS Nov construction PMI 53.1 vs 51.0 exp
- Eurozone December investor confidence 31.1 vs 33.4 expected
- Spain November unemployment change 7.3k vs 54.3k expected
A busy session that's ultimately seen the pound claw back all it's early losses, and more, on Brexit talk hopes while the Canadian $ has continued it's advance begun on Friday.
Here's a p/a summary.
- GBPUSD lows of 1.3419 but up to 1.3539 on hopes of Brexit progress, partic over Ireland
- EURGBP up to 0.8835 but down to 0.8757 on the GBP demand. Large-ish options in play at 0.8789 today
- USDJPY had an early look above 113.00 on USD demand/better risk sentiment only to fall back to test 112.80 again
- EURUSD down to 1.1835 then bounce to 1.1880 before capping at good offers/res
- USDCAD has ignored the periods of USD demand and made its way down to test 1.265-60 support/bids continuing its falls from Friday
- AUDUSD and NZDUSD held up well with large AUDNZD expiries in play at 1.1100
- Equities opened firmer and held gains
Little to come on data front but all eyes on Brexit talks and Trump/tax/Flynn impacts.
