Forex news from the European trading session - 7 Feb 2018
News:
- Lautenschlaeger says ECB can stop net QE asset purchases this year
- US Fed's Kaplan says market corrections are healthy
- Fed's Bostic says we will see slow gradual rate hikes
- Searches for Bitcoin have tumbled just as dramatically as its price
- Germany's conservatives and SPD have agreed coalition deal - Spiegel
- Talk on the street that SPD leader Schulz stepping down
- SPD's Olaf Scholz to become German finance minister
- Mike Pence: Age of strategic patience with North Korea is over
- FX option expiries for the 15.00 GMT cut - 7 Feb 2018
- South Korea finance minister: Will take measures to stabilise markets if needed
- The return of the king (dollar)?
- Yen demand in play again with GBPJPY a prime mover
- EUR/JPY uptrend is still in tact, but...
- Germany's DIHK raise 2018 GDP forecast to 2.7% vs 2.2% prev
- Spain proposes Luis de Guindos as candidate for ECB vice president post
- China's SAFE: Forex reserves will maintain overall stable
- SAFE chief says China will focus on "fighting" against FX manipulations
- SNB January foreign currency reserves CHF 731.4bn vs CHF 743.9 bn
- China January FX reserves $3.16T vs $3.14T prior
- Australia January foreign reserves AUD 65.3bn vs AUD 85.4bn
- RBI's Patel says projections indicate Indian 2018/19 inflation to be around 4.5%
- Istat says that it sees a slight slowdown in Italy's leading economic indicator
- European equities open firmer to start the day
- Rate spreads are of little value in determining AUD outlook - Aberdeen
- Trading ideas for the European session 7 Feb
- Credit Suisse isn't a fan of the Australian dollar
- Nikkei 225 closes up by 0.16% at 21,645.37
- ForexLive Asia FX news: Asia FX quick to move on
Data:
- Germany December industrial production m/m -0.6% vs -0.7% expected
- France December trade balance -€3.5 bn vs -€4.9 bn expected
- UK Jan Halifax house price index m/m -0.6% vs +0.2% expected
- Italy December retail sales m/m -0.3% vs +1.1% prior
- Japan Dec preliminary leading indicator index 107.9 vs 108.1 expected
A busy session that's seen JPY demand again but also USD as equities hold their own.
Here's a quick p/a summary:
- GBPUSD failed at 1.3995 then dropped as GBPJPY selling kicked in. Lows of .13873 before testing 1.3900 again
- USDJPY down to 108.93 from 109.30 before returning with yen demand giving way to some money coming off the table
- EURUSD down to 1.2335 from 1.2400
- EURGBP trading down n up down btwn 0.8870-0.8900
- EURJPY lower as all yen pairs before staging a correction
- USDCAD ranging 1.2500-30
- AUDUSD down to 0.7855 from 0.7900 with some options in play
- NZDUSD 0.7304 from 0.7320
- Bitcoin up to $8450 from $7500
- Equities higher
- Gold $1324 from $1332
- Oil lower . WTI $62.80 from $63.60
Data/events coming up:
