Forex news for the European morning trading session 16 Nov 2017
News:
- ECB Mersch: ECB could raise growth forecast in December
- BOE's Carney says Brexit transition deal is in everyone's interest
- PM May is preparing to increase her Brexit divorce bill offer in Dec
- Reports of an increased offer by UK for Brexit divorce bill just "speculation"
- EU official: UK has yet to deliver enough info on separation
- ECB's Praet says there still appears to be a disconnect between growth and inflation
- ECB's Jazbec says inflation rates are moving in line with expectations
- PBOC's Yin says monetary policy should also prevent systemic risks
- Japan banking lobby: It would hurt financial system if negative rates for LT
- Labour Shadow Chancellor McDonell: There is never going to be a run on the pound
- Forex technical analysis: EURUSD waffling but may be trying to base more....
- Forex technical analysis: GBPUSD hanging between MA levels.
- Forex option contract expiries for today 16 Nov
- Goldman Sachs outlook for China next year - mor reforms, stable mon pol
- A snapshot of the winners and losers so far today
- Trading ideas for the European session
- Nikkei 225 closes up +1.47% at 22,351.12
- ForexLive Asia FX news wrap: Not much to shift FX from stability
Data:
- Eurozone Oct CPI mm 0.1% vs 0.1% exp
- UK retail sales for October MoM 0.3% vs. 0.2% estimate
- France Q3 ILO unemployment rate 9.7% vs 9.5% exp
- Italian trade balance with EU 0.469B EUR vs 0.830B Sept 2016
- Swedens October jobless rate 6.3% (as expected)
- Japan Oct machine tool orders final yy 49.8% vs 49.9% prev
A scrappy session but one that has still provided opportunity for those keen enough to get involved.
Large option expiry interest on EURUSD above 1.1800 has helped apply downward pressure on EUR pairs and we've seen EURUSD down to 1.1756 and EURGBP 0.8912. That selling has helped underpin GBPUSD again around 1.3160 but 1.3200 still proving a tough nut to crack as I type.
EURUSD feeling the squeeze
Both USDJPY and USDCHF have felt some risk-on effect as equities return to positive territory and we've seen 113.33 from 112.80 and 0.9933 from 0.9895.
Large option interest on AUDUSD at 0.7625-30 also putting a lid on that pair while NZDUSD continues to look soggy at 0.6841 after running into good sell interest around 0.6880 then 0.6865. USDCAD has been tightly bound held up above 1.2750 by general USD demand but finding sellers above 1.2780.
A raft of data to come at 12.30 GMT as the next known price risks.
