Forex news for the European morning trading session 28 Nov 2017
Featured Article: How to distinguish a real breakout from a false one
News:
- BOE's Carney: A disorderly Brexit will cause slower growth and higher unemployment
- BOE's Carney: Tests show banks could lend through disorderly Brexit
- Bank of England financial stability report November 2017
- UK trade secretary Liam Fox: UK not afraid not to get deal with EU
- BoJ Kuroda: BoJ balance sheet is much larger than Fed or ECB
- IEA's Birol: Oil market could tighten towards 2H 2018
- Who woke up the GBPUSD algos ?
- USD demand prevailing again in fragile markets
- ECB's Hansson: QE could be phased out if economy evolves as expected
- BOJ H1 2017 operating profits JPY 961.1bln
- Forex option contract expiries for today 28 Nov
- Here's what major banks are saying about global growth in 2018
- Bitcoin inches closer to $10,000 mark
- AUDNZD continues its drift lower
- Cable touches sessions lows. What next?
- OECD raises 2017 global GDP forecast to 3.6% vs 3.5% prev
- USD/CAD at session highs, eyes breakout
- Nikkei 225 closes down -0.04% at 22,486.24
- Forexlive Asia-Pacific news wrap: Fed/BOJ comments can't push the market
Data:
- German October import prices 0.6% vs 0.6% m/m
- Euro area October M3 money supply growth 5.0% vs 5.1% y/y expected
- French November consumer confidence 102 vs 101 expected
A session that's provided a few opportunities even if it hasn't produced many answers.
Stand outs are some USD demand again but with yen buyers prevailing also. No real prime movers and in essence just a test of recent range extremes but pips to be had.
USDJPY had risen steadily from a test of 110.80 in Asia but from 111.20 we only got as far as 111.38 before yen demand kicked in again and a retreat to 111.25 and that lent weight/pressure to core pairs.
GBPUSD had seen a quick stop hunt to 1.3360 but was soon back where it started at 1.3330 and has since been down to test 1.3280 with GBPJPY falling to 147.83 from 148.50
GBPJPY 15m
EURUSD didn't want to make any real impact on the topside and we've been down to 1.1875 having capped at 1.1920 in early European trading. The rally as helped by EURGBP month-end demand seeing a spike from 0.8920 to 0.8955 which also helped cap cable.
AUDUSD and NZDUSD have both fallen but the latter is finding a little support from fallout after yesterday's AUDNZD 1.1100 option expiry as the pair drops further to 1.0960.
USDCAD has seen a rally to 1.2808 from 1.2780 only to run out of steam as oil prices found some dip demand. USDCHF has looked at the 0.9830 area again on the USD demand but capped by EURCHF supply from 1.1700 down to 1.1670.
Data and Fed heads coming up to throw in the fragile mix:
