Forex and Bitcoin news from the European morning trading session 20 Feb 2018
News:
- EU parliament is to call for Britain to have 'privileged' single market access post-Brexit
- UK Brexit minister Davis says deal by end of the year is on the cards
- Bitcoin off its lows after losing some recent sparkle
- HSBC remains "very skeptical" on cryptocurrencies
- Pound catches a bid on latest Brexit news
- Pound retreats again as Brexit-led spike runs out of steam
- EU say they are not in a trade war with the USA
- German economy ministry says EU will respond appropriately against US tariffs
- UAE say OPEC oil output deal to extend beyond 2018
- OPEC committee sees pace of oil rebalancing quickening
- The US Treasury opens its auction floodgates today
- RBA Bullock says mortgage stress is still relatively low in Australia
- Morgan Stanley says that equities correction was just the "appetizer, not the main course"
- ECB's Rimsevics says that he never asked for or received any bribes
- Cable bounces off lows as near-term support levels hold
- AUD/USD breaks back above near-term resistance, what next?
- Just when you think you've got the market figured out...
- FX option expiries for the 15.00 GMT cut - 20 Feb 2018
- South Korea's finance minister says market is to decide exchange rate
- Is the US yield curve starting to flatten again?
- Nikkei 225 closes down by 1.01% at 21,925.10
- JP Morgan warns that the Australian economy is "out of sync" with the rest of the world
- ForexLive Asia FX news: USD up a little during the session
Data:
- Germany January PPI m/m +0.5% vs +0.3% expected
- Germany Feb ZEW current situation 92.3 vs 93.9 exp
- UK February CBI trends total orders 10 vs 11 expected
- Switzerland January trade balance CHF 1.32 bn vs CHF 2.63 bn prior
- Japan January convenience store sales y/y +0.1% vs -0.3% prior
- Japan January final machine tool orders y/y +48.8% vs +48.8% prelim
Another session of USD demand but that wasn't the whole story for pound pairs
Here's your p/a summary;
- USDJPY 106.85 to finally take out 107.00 offers/res and post 107.21 before funning out of puff
- GBPUSD posts lows of 1.3930 then steady around 1.3960 before Brexit headlines sends GBP higher and we see 1.4016 before heading all the way back around 1.3970
- EURGBP similar pattern with lows of 0.8811 from 0.8840 before rallying back to 0.8830
- GBPJPY up to 150.22 from 149.60 before retreat to 149.75
- EURUSD had an early dip to 1.2335 from 1.2380 and has remained on the back foot
- USDCHF has kept a steady bid all morning and posted 0.9356 from 0.9305 with EURCHF also holding 1.1500 again and rallying back around 1.1540
- AUDUSD has large option interest tomorrow at 0.7950 which has helped seen a move to 0.7935 only to return back to 0.7890 as I type.
- USDCAD has also been in steady ascent to post 1.2608 from 1.2570
- Bitcoin managed to find some dip demand into $11200 after a solid fall from $11650
- Oil dipped to $1337 from $1342 while equities opened marginally in positive territory and remained there by and large
No data of note to come so let's see what else presents itself.
