Forex news and economic trading headlines 22 August 2016
News:
- US Fed to hike interest rates before year-end?
- UK house prices set to fall next year post-Brexit
- China's cabinet says government will maintain ample liquidity in banking system
- USDJPY heading to 95.00 before September BOJ decision says Citigroup
- Don't hold your breath on Jackson Hole hike guidance say RBS
- European markets give the greenback a less than warm welcome to the new week
- Cable stalls into 1.3100 as EURGBP finds dip-demand again.
- Oil prices on a slide lower sending Canadian Dollar down with it
- Option expiries 10 am NY cut today 22 August
- Nikkei 225 closes up +0.32% at 16,598.19
Data: None of note
It's been a session that's seen the greenback giving back some recent gains while the pound has another up n down time of it.
USDJPY had failed to breach 101.00 in Asia and was already in retreat with a lacklustre Nikkei offering little help. Support at 100.80 gave way and we've since tested 100.50.
The pound found a few buyers as GBPUSD held 1.3030 in Asia and with EURGBP running out of puff again we saw 1.3097 and 0.8616 after finally breaking down through the 0.8625-30 pivot area again. Another later burst saw 1.3121 and 0.8610 before enough was enough for intra-day traders who took money off the table given a steer by GBPJPY running into sellers again.
EURUSD had an early test of 1.1270 but a failure there added to the USD-neg sentiment and we've seen a couple of attempts at 1.1300 helped by EURGBP demand taking the pair back too 0.8634
USDCAD had an early move up to 1.2930 as oil prices fell but also ran into offers/res and retreated to test, and hold, 1,2900 as oil continued to fall.
AUDUSD and NZDUSD both enjoyed the USD supply but rallies have been contained.
No data out so far and only Canadian wholesale sales to follow at 12.30 GMT.
A steady Summer market start to the week with opportunities for those keen enough to get involved.
