Forex news for the European morning trading session 10 Nov 2017
News:
- US Fed's Williams repeats that a December rate hike "makes sense"
- Nowotny says ECB should end QE after Sept if economy allows
- TPP leaders meeting today now postponed says Japan's Abe
- Trump says current trade balance with China not acceptable
- EU's Barnier says no announcement from negotiators expected today
- UK's Davis on Brexit talks: Now is the time for both sides to seek solutions
- China's Xi says globalisation has become an irreversible trend
- Trump and Putin will not be meeting in Vietnam
- Threat of hard Brexit remains high says BDI's Lang
- Forex option contract expiries for today 10 Nov
- Trading ideas for the European session
- Pound gets off to a shaky start
- Nikkei 225 closes down -0.82% at 22,681.42
- ForexLive Asia FX news wrap: NZD the (small) mover today
Data:
- UK Sept industrial production mm 0.7% vs 0.3% exp Trade data here too
- France Sept industrial production mm 0.6% vs 0.5% exp
- Italy Sept industrial output mm -1.3% vs -0.3% exp
- China Oct vehicle sales yy +2.0% vs +5.7% prev
No great trend or news to report but there's been opportunity nonetheless.
Yen demand early on with a slightly better USD tone saw GBPUSD down to 1.3113 from 1.3150 and GBPJPY down to 148.83 from 149.20. EURUSD also fell as did EURJPY.
Since then though, and helped by better UK production/trade data it's been a firmer ride for pound pairs with cable posting 1.3193 after first stalling at 1.3170 but equally finding support between 1.3150-60. EURGBP ranging still.
USDJPY had a look above 113.60 but didn't last long and been back to 113.35. USDCHF has also remained on the back foot and posted 0.9925 from 0.9945
USDCAD has been soggy as oil prices remain firm while AUDUSD still tightly bound after a post-RBA rally failed at 0.7700 again.
US Michigan sentiment the main data risk but focus remains on trade discussions, Brexit, TPP and NK among many others.
