Forexlive European FX News wrap: It's oh so quiet but no time to be complacent

Author: Mike Paterson | Category: News

Forex trading news and economic data headlines 19 April 2017



It's been a far quieter session yesterday as bots and traders try to make sense of the events of the past 24 hours.

Tight ranges have prevailed across all major pairs and the pound has settled down albeit still underpinned after it's spike last night in late NY trading.

GBPUSD opened up around 1.2825 and had a little look lower and higher but nothing of note and the same can be said of other GBP pairs.

USDJPY has had a look at 109.00 from 108.70 and that's helped underpin JPY pairs and put the bid under core pairs with EURUSD finding demand into 107.10 but spending most of its time around 1.0725

AUDUSD has remained on the back foot but survived a test of 0.7500 in Asia and has crawled back up to 0.7525 as I type helped by some AUDJPY demand. USDCAD similarly found some buy interest to 1.3438 but tempered by CADJPY supply.

Equities have made a few gains, apart from the FTSE which is still suffering from the GBP rally, and that has helped the greater risk sentiment/yen selling.

Not a lot on the data front to be concerned with but we do have some CB talking heads starting with ECB's Coeure at the top of the hour.

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