Forex and cryptocurrency news from the European trading session - 11 April
News:
- RBA's Lowe: Bitcoin is a terrible means of payment
- 'Bitcoin Jesus' says that he still owns some Bitcoin
- RBA's Lowe: Cutting rates not as stimulatory as in the past
- RBA's Lowe: Board does not see strong case for near-term move in rates
- China vice finance minister says will continue to roll out more tax cuts
- Japanese candlesticks: Lifehacks & tips
- FX option expiries for the 14.00 GMT cut - 11 April 2018
- Fitch says shipping industry can manage US-China tariffs, but risks are rising
- CHF weakness notable again with SNB in the frame
- AUD/NZD grinds lower after June highs continue to stall any upside move
- Nomura recommends adding to CHF short positions
- IEA chief Birol: Oil supply concerns remain
- China president Xi says will provide better environment for foreign entrepreneurship - report
- China-Japan high-level economic dialogue to be held on 16 April
- OPEC's Barkindo says investment increases not been seen in line with rebalancing
- European equity markets open lower 11 April
- Sterling leads the way as cable looks poised to retest the year's highs
- Trading ideas for the European session 11 April
- More from Lagarde: Trade continues to work, though not perfect for all
- IMF's Lagarde: Hong Kong dollar should remain pegged
- Bank of France March industry sentiment indicator 103 vs 104 expected
- IMF's Lagarde: We must be sensible about talk of trade war
- BOJ's Kuroda says will continue powerful monetary easing
- Saudi oil minister: There is no such thing as a target price for oil
- Nikkei 225 closes lower by 0.49% at 21,687.10
- IEA chief Birol says oil demand will remain solid in years to come
- Macquarie lowers China inflation forecast after data miss earlier
- IMF's Lagarde says global growth forecasts next week to show continued optimism
- BOJ veteran has a word of advice for China in dealing with the US
- Moody's take on Xi's speech yesterday
- Saudi oil minister says future supply situation of oil is not reassuring
- Fitch estimates that US tariffs will not have significant effect on Chinese economy
- Daiwa says that speculators had been too aggressive in selling USD/JPY
- China says that cuts on import tariffs are based on its own choice
- Moody's says direct effects of US tariffs on China exports is limited
- Saudi oil minister: Happy with oil market at present
- ForexLive Asia FX news: Japan data beats again, China inflation misses
Data:
- UK February visible trade balance GBP -10.203bln vs -11.9bln exp
- UK February manufacturing production m/m -0.2% vs +0.2% expected
- Italy February retail sales m/m +0.4% vs -0.5% prior
A fractious session with US CPI data lurking behind a fragile global scenario.
USDJPY has been pinned around 107.00 with large option interest there and 106.50-60. Risk sentiment has been variable but just wobbling again as I type.
EURUSD capped at 1.2389 after early USD supply which also saw GBPUSD rally further to post 1.4225 before a combination of EURGBP demand at 0.8700 again and GBPJPY supply has seen a retreat to 1.4180. Large-ish option interest a 1.4150 expected to provide support.
USDCHF and EURCHF spiked sharply to 0.9597 and 1.1881 with SNB once again in the frame but since then seen a retreat to 0.9578 and 1.1850. USDCAD has found demand into 1.2580 to post 1.2615
AUDUSD has traded quite tightly falling back from 0.7770 to 0.7740 while NZDUSD also tight between 0.7345-75
Bitcoin has traded sideways after the recent falls and now found support into $6800
Equities opened softer and extended losses while oil has remained underpinned and gold also made some gains on the general risk-off sentiment prevailing.
US CPI your main data risk at 12.30 GMT. FOMC Minutes at 18.00 GMT
