Forex news for the European morning trading session 22 Sept 2017
News:
- Trump tweets that Kim Jong Un "will be tested like never before"
- Kuwait says OPEC can not sit back and relax
- ECB's Draghi says strengthening Eurozone economy will help reduce youth unemployment
- More from Draghi: ECB not there yet on inflation
- SNB's Moser says ending LIBOR will not affect monetary policy
- IMF says it supports BOJ's approach of maintaining monetary support
- Ex-BOJ's Kiuchi says 2% inflation target is not appropriate
- Japanese election set for 22 October according to latest reports
- London transport regulator says Uber not fit and proper to hold a private hire licence
- BOFAML lowers forecast for 2017 US GDP to 2.1% vs 2.2% prev
- Forex option contract expiries for today 22 Sept
- INR lowest since April this year
- Trading ideas for the European session 22 Sept
- Nikkei 225 closes down -0.25% at 20,296.45
- ForexLive Asia FX news wrap: brought to you today by the letters dotard
Data:
- France Q2 GDP final qq 0.5% as expected
- Eurozone Markit Sept mftg PMI flash 58.2 vs 57.2 exp
- Germany Markit/BME Sept mftg PMI flash 60.6 vs 59.0 exp
- France Markit Sept mftg PMI flash 56.0 vs 55.5 exp
- UK CBI Sept trends total orders 7 vs 13 exp
- Italian 2016 deficit-GDP revised to 2.5% vs 2.4% prev
Not as manic as some sessions this week but opportunities nonetheless.
Here's your p/a summary in bullets:
- EUR pairs all rally as general demand prevails ahead of German election on Sunday
- EURUSD rallies from 1.1950 and tests 1.2000 where large options roll off today. More at 1.1925
- EURGBP up to test 0.8850 from 0.8800 and helps push cable down to 1.3537 from 1.3585.
- UK PM May's Brexit speech in focus at 13.15 GMT
- USDJPY underpinned around option expiries at 112.00 after rapid retreat in Asia from 112.40 to 111.65
- USDCHF steady between 0.9675-0.9705
- AUDUSD rallies strongly from 0.7925 to 0.7975
- NZDUSD also underpinned and posts 0.7330 from 0.7290 with focus on NZ election tomorrow
- USDCAD in steady retreat to 1.2270 from 1.2320 as we wait on Canadian CPI at 12.30 GMT. Large-ish options at 1.2350 in play potentially
- Gold in steady fall from $1298 to $1294.50
- Oil also in general retreat after early rally .WTI down to $50.40 from $50.80
- Equities reverse opening losses
