Forex news from the European morning session 9 Oct

News:

  • ECB's Vasiliauskas says governments must take effective economic action
  • Japan's Amari says fiscal discipline must be considered before lowering corp taxes
  • ECB says they will conclude comprehensive assessment of 9 banks in November
  • Interest rate policy - Solution to crisis or cause?: More from guest economist John Hearn
  • Lock in to Lockhart at 13.10 GMT
  • Bright spots for the UK in otherwise dreary data
  • Pound enjoying some Carney-inspired love
  • Gold and oil rallies support AUD and CAD
  • Option expiries 10am NY cut today 9 Oct

Data:

  • August 2015 UK construction output -4.3% vs 1.0% exp m/m
  • August 2015 UK trade balance -11.149bn vs -10.00bn exp
  • France industrial production Aug mm +1.6% vs +0.6% exp
  • Italy industrial production Aug mm -0.5% vs -0.3% exp
  • Greece industrial production Aug yy +4.5% vs -2.8% exp
  • Nikkei 225 closes up +1.64% at 18,438.67

Another busy session as markets give the thumbs up to commodity currencies and euro while risk appetite keeps the yen undermined

It's been another rampant morning for the euro that has seen EURUSD rise to 1.1368 from 1.1285 after pausing for breath at 1.1350. The healthy appetite for risk has also seen EURJPY up to 136.63 from 135.45 which in turn has underpinned USDJPY above 120.00

EURGBP capped originally at 0.7385 but has since posted 0.7414 which has helped put supply into cable at 1.5385 and we're now seeing 1.5345. Weaker UK data hasn't helped the pound's cause either.

The other stars of the show have been commodity based as gold and oil post further gains. AUDUSD has risen from 0.7280 to test 0.7350 after pausing for a breather at 0.7300 while USDCAD has fallen from 1.2980 to test decent demand at 1.2900

A lively session then and we can expect more of the same before the day is out