ForexLive European morning FX news wrap: Pound and yen enjoy good two-way business

Author: Mike Paterson | Category: News

Forex news and trading headlines 11 Jan 2016

News:

Data:

All eyes may be on the Trump presser at 16.00 GMT but that's not stopped traders and robots having a bit of two-way fun in the meantime.

In essence we've seen the pound under early pressure again not helped by better mftg data given our trade balance worsened . GBPUSD has been down to 1.2096 and EURGBP up to 0.8705 with GBPJPY trading down to 140.60 with USDJPY falling back to test 115.80 support from 116.25 highs.

 Buyers reappeared to post 1.2142,0.8654 and 141.30 with USDJPY rallying back through 116.25 and this time testing 116.50 before retreating.

Meanwhile EURUSD has been sliding lower with equities going nowhere in a hurry while oil firming has helped cap USDCAD at 1.3256 tempering general USD demand.

AUDUSD had an early ramp up through 0.7385 offers/res to post 0.7396 finding 0.7400 supply a step too far.

Good two-way business to be had for the intra-day trader and we can expect this to continue.

Coming up: GMT

14.15  Carney at the TSC

15.00  NIESR UK GDP estimate

15.30  US Crude oil inventories

16.00  Trump presser

18.20 Fed's Dudley speaks

LON GMT+1
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NY -4
TYO +9
GMT

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