Forex news for the European morning trading session 3 Nov 2017
News:
- Japan's Abe says it's time to exert maximum pressure on N.Korea
- More from Abe: Japan would shoot down North Korean missiles if necessary
- Trump in Japan - spoke on trade (but not specifically currency) - recap
- ECB's Praet says Oct decision was taken against a backdrop of solid economic expansion
- UK CBI says the road to a Florence speech Brexit deal must be swift and have no deviations
- May says new chapter now needed for the UK economy
- More from May: Welcomes beginning of internal EU discussions on future relationship post-Brexit
- Kuroda says BOJ's current yield curve control programme is sufficient to hit CPI target
- Puigdemont freed by Belgian judge but still due to appear in court within 15 days
- Forex option contract expiries for today 6 Nov
- Chinese foreign trade growth may slow down but remain high in Q4
- Moody's on China property sector - outlook stable, but ... downside risk
- More on the Saudi shake up- "a sign the kingdom is serious about change"
- WTI breaks up through USD 56.00 for first time since July 2015
- Trading ideas for the European session
- Nikkei 225 closes up +0.04% at 22,548.35
- ForexLive Asia FX news wrap: Yen a big mover
Data:
- Eurozone Sept PPI mm 0.6% vs 0.4% exp
- Eurozone Markit Oct services PMI final 55.0 vs 54.9 exp
- Germany Markit/BME Oct services PMI final 54.7 vs 55.2 exp
- France Markit Oct services PMI final 57.3 vs 57.4 exp
- Italy Markit/ADACI Oct services PMI 52.1 vs 53.0 exp
- China Q3 current account surplus USD 37.1bln
- Germany Sept factory orders mm 1.0% vs -1.1% exp
- Spanish services PMI drops in October but composite beats expectations
- Eurozone Sentix Nov investor confidence 34.0 vs 31.0 exp
- Switzerland Oct CPI mm 0.1% as expected
A steady session overall that's seen a slide in the euro and USDJPY but better showing by pound pairs.
EURUSD felt heavy early doors around 1.1620 as EURGBP selling from 0.8880 led the way down. Lows so far of 0.8839 and 1.1584 amid mixed EZ PMI but firmer PPI and sentiment data.
The move down in EURGBP put a bid under cable around 1.3075 and we've back up to test 1.3130 before falling back to 1.3095
USDJPY found support at 114.20 as the session got underway after the Asian highs of 114.73, helped lower by option expiry interest at 114.50. Lows so far of 114.05 with EURJPY selling helping the move down.
USDCHF remains underpinned above 0.9980 but once again failing into 1.0030 with EURCHF falling down to 1.1592 from 1.1640
Oil had a good session with WTI futures breaking $56.00 for the first time since July 2015 and that demand helped cap USDCAD at 1.2775 and fall back into 1.2740.
AUDUSD has found dip demand around 0.7650 to post 0.7666 and NZDUSD supported around 0.6880 to post 0.6903
Not a lot of data of note but Canadian Ivey at 15.00 GMT. Dudley up to the mic at 17.10 GMT
