Forex news from the European trading session - 14 February 2018
News:
- South Korean officials provide much awaited relief for cryptocurrencies
- ECB's Mersch: There is no viable alternative to euro cash
- Let there be "Lite(coin)"! Litecoin's surge continues on in the day
- SNB's Zurbruegg says that central bank not planning to issue digital currency
- P Morgan describes Bitcoin ETFs as the 'holy grail' for cryptocurrency owners and investors
- Watching anime can get you cryptocurrencies in Japan these days
- UK's Johnson says it would be disastrous to try and reverse Brexit
- UK's Hammond is convinced that "we can reach a good agreement for UK and EU"
- Juncker says EU financing is becoming "a bit urgent"
- IMF says Brexit uncertainty is to continue to weigh on UK growth
- PBOC says China's inflation may face upward pressure
- BOE Agents report says activity growth steady but at modest pace
- USD/JPY tumbles further as 107.00 level gives way
- Barring any massive surprises, the focus on the US CPI data will be on the reaction - not the data itself
- More US inflation data previews - "CPI report will be closely watched"
- USD/JPY may fall either way in reaction to the US CPI report later today
- FX option expiries for the 15.00 GMT cut - 14 Feb 2018
- Germany's economy ministry says economy off to a good start in 2018
- USD/JPY slide below 2017 low means a further drop is on the cards - Daiwa
- OPEC's Barkindo says that 2018 oil demand growth seen at healthy levels
- Trading ideas for the European session 14 Feb
- Nikkei 225 closes lower by 0.43% at 21,154.17
- ForexLive Asia FX news: USD loses more ground
Data;
- Eurozone Q4 GDP SA qq provisional 0.6 % vs 0.6% exp
- Eurozone December industrial production +0.4% vs +0.2% m/m expected
- Germany January final CPI % -0.7% vs -0.7% m/m prelim
- Germany preliminary Q4 GDP NSA y/y +2.3% vs +2.2% expected
- Italy preliminary Q4 2017 GDP +0.3% vs +0.4% q/q expected
A somewhat subdued session for the most part as markets wait on US CPI but we did see 15-month lows on USDJPY on an early dip to 106.83 only to bounce back and test 107.50 before retreating. Barrier option interest at 106.50 lending support.
Elsewhere GBPUSD has had another look above 1.3900 only to fail and post 1.3742 with EURGBP still underpinned and posting 0.8920 before both found GBP buyers again.
EURUSD had a look at 1.2400 only to fail with large option interest in play and retreat to 1.2340 while USDCHF held losses into 0.9300 to post 0.9355 before running into fresh sellers.
AUDUSD has a few options in play between 0.7875-85 and has found a base at 0.7860 after reteating from 0.7890 while USDCAD has been tightly bound 1.2570-90 for the most part.
Bitcoin/cryptod have made good gains as fears of S Korean interference lessen and we've seen Bitcoin rise to up through $9000 having recently built a base at $8000 then $8500.
Attention in markets clearly focussed on US CPI at 13.30 GMT
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