Forex news and economic trading headlines 8 August 2016
UK leads the way in political goal post moving
WTI takes itself back to old support after sub $40 trip
August 2016 Eurozone Sentix index 4.2 vs 3.0 exp
Forex market orders 8 August 2016
OPEC: Current oil price decline is temporary
July 2016 Swiss CPI -0.2% vs -0.3% exp y/y
July 2016 Bank of France business sentiment 98 vs 97 exp
June 2016 German industrial production 0.8% vs 0.7% exp m/m
Did you catch a winner from the NFP or are you still running a trade? European session trade ideas 8 August 2016
Forex option expiries for the 10am (14.00 GMT) New York cut 8 August 2016
July 2016 Japan economy watchers survey current conditions 45.1 vs 42.5 exp
July 2016 Japan bankruptcies -9.25% vs -7.40% prior y/y
New Zealand PM Key expects banks to pass on any RBNZ rate cut
Economic data due Monday 8 August 2016
A subdued start to the week, as is often the case after NFP week. GBPUSD had an wobble not long after London came in. It was doing nothing at 1.3080 but EURGBP cracking 0.8500 saw it drop to 1.3033, though even that was slow going. We've recovered back to just shy of 1.3080 as EURGBP fails to make inroads above the big figure and currently trades back down to 0.8480.
USDJPY was walking the 102.00 line but then started inching higher. We broke the overnight highs at 102.25 but only managed to gain an additional 21 pips to 102.46. It looked mostly a yen move as the crosses went too and other USD pairs stayed fairly steady.
AUDUSD got back on the bullish horse, we'll it's more a toy wooden horse that a galloping stallion as it's only managed around 30 pips of upside since the session started.
Oil has been looking bolshy for shorts and that has added to the positive sentiment. USDCAD has largely ignored the oil move and seems a touch more tied to the USD side of things right now. Not that it's brought any moves of note but it's not gone down as oil's gone up.
Not a lot on the calendar today so reasons for market moves are going to have to be cooked up from elsewhere.
