Forex news for the European morning trading on 18 Aug 2017
News:
- EURUSD and GBPUSD both spike higher but sellers poised
- Cable nudges higher again as USD supply returns
- Draghi to speak at Jackson Hole on 25th August
- AUDUSD breaks higher after 0.7900 resistance gives way
- China's banks finish self-assessment under a regulatory crackdown
- More from China: Interbank assets and liabilities both shrank in Q2 for first time in 2010
- Fitch say evidence of wider CBA failings would be credit negative
- Forex option contract expiries for today 18 Aug
- SA Reserve Bank to cut repo rate to 6.5% at November meeting say latest poll results
- Nikkei 225 closes down -1.18% at 19,470.41
- ForexLive Asia FX news wrap: Minor FX movement only for Asia Friday
Data:
- Germany July PPI mm 0.2% vs 0.0% exp
- Eurozone June current account SA EUR 21.2bln vs 30.5bln prev
- Eurozone June construction output mm -0.5% vs -0.2% prev
Simply awful news from Barcelona. For me made even more chilling , if that is indeed possible, by the fact that my son was there partying with friends just a few weeks ago. Sincere condolences and thoughts go out to anyone sadly caught up in this latest atrocity. Thankfully, at least, another attempt nearby has been foiled overnight by police.
Market wise we've seen some fallout in the shape of some safe-haven plays with yen, swiss franc and gold all in demand.
USD supply also notable but price action has been volatile n certain pairs particularly GBPUSD and EURUSD both of which have seen sharp spikes only to retreat to from whence they came.
EURUSD has posted 1.1775 in a rush from 1.1740 and GBPUSD to 1.2919 from 1.2890 amid a rollercoaster ride. EURGBP slipped below 0.9100 but soon found some buyers as did EURCHF down at 1.1270 again.
AUDUSD started quietly around 0.7895 having held 0.7870 in Asia but a spike in gold from $1288 to $1295 saw offers/res break at 0.7900 triggering stops to 0.7926 and then 0.7932 before retreating.
USDCAD has been trading 1.2535-75 reflecting the fickle USD sentiment as much as anything else.
Data to come includes Canadian CPI and US Michigan sentiment index, with Fed's Kaplan up to the mic again after.