Forex news for European trading Thursday 26 September
- Brexit: EU's Barnier still ready to work on new proposals
- PM Johnson convinced UK will leave EU on October 31
- GBPUSD up as EU and UK discuss non-permanent N.Irish backstop, but is it new?
- UK PM Johnson: Brexit minister Barclay will go to Brussels tomorrow with EU's Barnier
- Currency strength: GBP weakest and NZD strongest
- Chart in focus GBP/NZD
- Brexit : UK Junior Brexit minister reveals Gov't plan A.
- EURUSD falls towards major daily support level
- Huge 6bln option on EURUSD at 1.1000
- Hang Seng closes +0.37%
- European bourses given boost from upbeat China comments below
- European bourses open down on handover from Asia
- BoJ Governor Kuroda: Continuing to ease
- US Oil looks weak at the European open
- Trade ideas thread - Thursday 26 September 2019
- Brexit latest catch up: Where are we this am?
- Nikkei unofficially closes +0.13% and European futures slightly up
- Germany October GfK consumer confidence 9.9 vs 9.6 expected
- Brexit: Fear and loathing in Westminster
- Majority of 35 economists predict RBA will cut rates on Oct 01
Markets
- Dax: +0.47%
- UK FTSE: +0.99%
- Euro Stoxx: +0.55%
- France 40 (CAC): +0.70%
- DXY: +0.4% at 99.07
- Gold regains $1500 at 1507 +0.20%
The initial handover from Asian equites this am was a negative initial vibe for European bourses as futures indicated a down start for the day. However, the sentiment was lifted early on by China's Commerce Ministry who made a number of upbeat comments. This positive vibe continued through the European morning session .
The Dollar made a decent recovery through the session, from having started as the weakest currency and the Dollar Index pushed above the 99.00 handle. The NZD was strong as Governor Orr dialled back expectations of RBNZ using the unconventional policy. The GBP was weak for most of the session , but gained strength into the end of the session on the usual to and fro of Brexit headlines. Expect that to continue, but I can sense a real digging in of PM Johnson as he goes for his 'do or die' Brexit approach.
The EURUSD approached year lows and found some support as profit taking and large option levels kept the EURUSD from moving lower. There is a 6bln option at 1.1000 (I wonder if we will get a quick push up there before the cut?) and 2bln between 1.0925-50. Watch out for a shift in prices after 1400GMT.
Dow futures +0.21% and S&P500 futures are up +0.12% as the positive sentiment from Europe looks set to flow through to the start of the North America session.
ECB's Lautenschläger has resigned. She was a Hawk and was against the QE programme released by the ECB.
