Forex trading news and economic data headlines 1 Nov 2016
News:
- BOJ's Kuroda says CPI likely to accelerate to 2% around FY 2018
- More from Kuroda: Closely watching impact of US election on world economy
- More from Kuroda ( Part 4372): Govt is working towards meeting fiscal targets
- Even more from Kuroda: Markets have responded smoothly to BOJ's new framework
- Pound rally runs out of steam again after Carney-led support
- ESM's Regling says they will make Greek short-term debt proposals by year-end
- PBOC says it issued CNY 763bln via MLF in October
- GBPUSD seen falling to 1.1500 after Article 50 is triggered - Reuters poll
- EURUSD seen at 1.0900 in 3 months - Reuters poll
- Thomson Reuters announce 2000 global job losses
- Heads up for NZD traders : Latest GDT auction underway shortly
- AUD pairs feel some love as gold posts one-month highs
- EURGBP still in demand but runs into more sell interest
- EURUSD pops 1.1000 but sellers lurking still
- Option expiries for the 10 am NY cut today 1 Nov
- Nikkei 225 closes up +0.1% at 17,442.40
Data:
- UK Markit mftg PMI Oct SA 54.3 vs 54.5 exp
- Switzerland mftg PMI Oct 54.7 vs 53.9 exp
- Switzerland retail sales Sept yy -2.3% vs -2.2% exp
- Greece Markit mftg PMI Oct 48.6 vs 49.9 exp
- Ireland Investec mftg PMI Oct 52.1 vs 51.3 prev
- Australia commodity index Oct SDR yy +16.0% vs +3.9% prev
- India Nikkei/Markit mftg PMI Oct 54.4 vs 52.1 prev
A new month has seen two central banks make their latest decisions and now it's the turn of the US Fed tomorrow.
It's been a busy enough start to November with the RBA and BOJ both announcing policy holds and that's given a bit of support to the Aussie$ along with gold hitting 1-month highs.
It's the euro that's been top of the class though as a combination of cross-play and inherent dip-demand helped by wobbly equities sees EUR pairs on the march higher.
USDJPY had found demand below 104.80 after the BOJ decision and that lent itself to JPY core pair buying too which saw EURUSD up testing 1.1000 and GBPUSD having a look at 1.2280 offers/res ahead of the stronger sell interest at 1.2300.
Failure to break higher and EURGBP holding 0.8950 led to cable falling back to 1.2210 and the latter rallying to 0.9023 pushing EURUSD through 1.1000 and eventually 1.1034 after wiping its feet around 1.1005.
EURJPY pushed on through 115.50 adding to the general euro demand but sellers on that pair helped push USDJPY lower to 104.87 from 105.12 highs.
USDCAD has been mostly 1.3375-1.3400 with large option interest in play. Canadian GDP on the menu too shortly.
A busy session, and I expect no letting up anytime soon.
