ForexLive morning news wrap: Pound has a better morning to start the week

Author: Mike Paterson | Category: News

Forex news for the European morning trading session 9 Oct 2017



A steady start to the week that's seen the pound recover some poise after last week's fall.

Here's your p/a summary;

  • GBPUSD early rally from 1.3097 to 1.3107 then 1.3129 only to hold before eventually breaking higher to test 1.3150
  • EURGBP dropped from 0.8960 to post 0.8934 before then bouncing a couple of times only to end back in retreat with 0.8920 targeted
  • EURUSD has large option expiries helping to keep range contained 1.1720-50.EURJPY and EURCHF demand  off-setting EURGBP supply
  • USDJPY has largely been flat-lined around 112.60 by the cross plays impact
  • AUDUSD fell from 0.7770 but has found support at 0.7750
  • USDCAD tightly bound between 1.2530-50
  • NZDUSD demand around 0.7070 to post 0.7085 in a quiet session. Uncertainty since NZ election still prevailing.
  • Gold tight range $1280-85
  • Oil lower with WTI down to $49.40 from $49.80
Nothing of note on the data front to come. Canada on hols for Thanksgiving and markets closed. US has Columbus Day holiday but most markets open.

UK PM May updating parliament on Brexit around 14.30 GMT

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