Forex news for January 18, 2016:
- BOE's Vlieghe: Will be 'patient' before raising rates
- BOE's Vlieghe: On balance, probability for next rate move is up
- Canadian PM Trudeau says government will stay fiscally responsible
- China GDP preview: Tonight's a big night for the Chinese fear trade
- JPMorgan cuts oil forecasts
- ECB QE count: Total PSP €515.2bn vs €499.9bn prior
- Anyone who brings more oil to market will harm the market says UAE
- Gold up $1 to $1089
- WTI crude down 48-cents to $28.94
- Canada's TSX down 1.24%
- USD leads, CHF lags on the day
The Martin Luther King holiday severely dampened trading in US hours. There was some focus on oil in the early going as it dipped down below $29 from a high of $29.84. That weighed on commodity currencies slightly and they were never able to recover.
AUD/USD started US trading at 0.6880 and drifted down to 0.6860.
USD/CAD is up 20 pips at 1.4558 after starting trade at 1.4500 in North American hours. Baring a reversal, it will be the twelfth day of gains for the pair.
Cable caught a bid early in Europe and jumped above 1.4300from 1.4240 but it's been a steady slide lower after London went home. We carved out a fresh session low late.
The good news for risk trades was on yen crosses. They finish the day slightly higher for a rare win. Still, we didn't get a solid sign about where sentiment is headed. Even on a holiday, you would hope for a bit more.
