Forex trading news and economic data headlines 14 Nov 2016
News:
- UK's May says Article 50 can not be revoked once triggered
- US and China establish "clear sense of mutual respect" after Trump/Xi phone call
- ECB's Constancio says world economy faces once again an abnormal degree of uncertainty
- ECB's Constancio is hoping to see a turning point on core inflation
- Italy's Renzi suggest he may not stay as PM if December referendum fails
- PM Key says the bill from earthquake damage to be at least "a couple of billion" NZD
- Moody's say the outlook for global sovereign ratings is negative over next 12-18 months
- EURUSD falls to 11-month lows as USD demand continues
- EURUSD nudges higher again with Draghi due to speak today
- USDJPY has another look at 108.00 but retreats. Dip demand notable though.
- EURCHF rallies to 1.0725 with SNB in the frame again
- Option expiries for the 10 am NY cut today 14 Nov
- Nikkei 225 closes up +1.71% at 17,672.62
Data:
- Italy HICP Oct final -0.1% as expected
A lively start to the week which has seen EURUSD post 11-month lows before recovering while USDJPY finds sellers above 108.00
Equities have remained in positive mode with bond yields all firmer again before finding some small correction/profit-taking.
From 11-month lows of 1.0729 we've seen 1.0781 helped by SNB-assisted EURCHF rally to 1.0743 from 1.0687 and USDJPY falling from 108.16 to 107.75 before finding fresh demand.
In the meantime EURGBP has fallen to 0.8582 before holding again and that first rally, along with the early USD demand saw cable fall to 1.2464. Supply above 0.86 though has seen GBPUSD back up to 1.2538
USDCHF has bounced to 0.9974 from 0.9920 on the SNB support while USDCAD has remained underpinned on softer oil and genera USD demand
AUDUSD has tight-ranged between 0.7530-60 on cross-ccy flows as has NZDUSD between 0.7080-0.7100
A busy start to the week and Draghi speaking later to throw into the current heady mix.
