Forex news from the European trading session - 25 January 2018
ECB announcement due at 1245GMT, Draghi presser at 1330GMT - previews
News:
- Mnuchin says US dollar is the world's reserve currency because of confidence
- More from Mnuchin: Dollar is not a concern of mine
- More from Mnuchin: Very clearly supportive of UK on Brexit
- Mnuchin says he talked about fair economic competition, trade and sanctions
- Even more from Mnuchin: "I do" think Trump shares relaxed view on US dollar
- SNB's Jordan says everything speaks for a strong US dollar
- BOC's Poloz says biggest concerns are NAFTA, debt and cyber risk
- Le Maire says "we want currency levels that reflect economic fundamentals"
- IMF's Lagarde: US dollar value is determined by markets
- UK Brexit minister Davis to give speech on Brexit transition period tomorrow
- UK PM May: Confident of a good Brexit deal
- Wilbur Ross: Hard to judge when NAFTA talks will end
- China foreign ministry: The hat of protectionism cannot be put on China's head
- UK's Hammond: Sterling has recovered a great deal against the dollar
- UK's Hammond: Very happy with where the pound is now
- Taiwan's central bank says Mnuchin talked down the US dollar
- South Korea is monitoring 'excessive' movements in the KRW - Bloomberg
- The dollar slide this month ranks among the worst in recent memory
- GBP TWI posts the largest monthly rise since Sept 2017
- Leo Varadkar: Brexit transition may be around 2 years
- More from Varadkar: Doesn't see any sign of UK backtracking on Irish border deal
- IMF's Lagarde: Current global economy is in a 'sweet spot'
- S&P says strong euro might delay QE tapering
- S&P affirms Australia's AAA/A-1+ ratings; outlook remains negative
- Burglars attempt to rob Ottawa-based Bitcoin exchange
- Trading ideas for the European session
- ANZ sees gold heading toward $1,400 by year-end
- Nikkei 225 closes lower by 1.13% at 23,669.49
- ForexLive Asia FX news wrap: Huge NZ CPI miss - kiwi slammed
Data:
- Germany January IFO business climate 117.6 vs 117.0 exp
- Germany February GfK consumer sentiment 11.0 vs 10.8 expected
- Spain Q4 2017 unemployment rate 16.55% vs 16.15% expected
- UK CBI Jan distributive trades survey 12 as expected
- Italy November industrial sales m/m +1.3% vs +1.1% prior
- UK Finance December mortgage approvals 36.11k vs 39.51k prior
- Japan December supermarket sales y/y +0.9% vs -0.6% prior
Busy busy busy as we continue to get large dollops of rhetoric and finger wagging from Davos.
FX pairs, by and large, have traded in more sober fashion than of late and we've the greenback make a few gains. ECB decision and presser today casting a shadow over proceedings.
Here's the p/a summary:
- GBPUSD down to 1.4240 from 1.4328
- EURUSD up to 1.2444 then down to 1.2380 b4 1.2400 again
- EURGBP ranging between 0.8690-0.8720
- USDJPY up to 109.25 from 108.74 then 108.95
- USDCHF ranging 0.9385-0.9440
- USDCAD 1.2333 from 1.2295
- AUDUSD down to 0.8069 from 0.8119
- NZDUSD ranging 0.7355-85
- Gold down to $1356 from $1365
- Oil ranging . WTI $65.80-66.20
All eyes on the ECB decision and presser but we do have some data too.
