Forex trading news and economic data headlines 10 March 2017
News:
- Today's NFP trade is on what could go wrong, not what could go right
- Will today's Non Farm Payrolls really rubber stamp a US Fed rate hike?
- Macron/Le Pen 65/35 in the 2nd in Opinionway poll
- Juppe declares himself Fillon's official sponsor
- Pound boosted by better Jan data as sterling helps with exports...or does it?
- Option expiries for the 10 am NY cut today 10 March
- Nikkei 225 closes up +1.48% at 19,604.61
Data:
- Germany Jan trade balance EUR +14.8bln vs +18.0bln exp
- UK January visible trade balance GBP - 10.833 bln vs -11.1bln exp
- January 2017 UK industrial production -0.4% vs -0.4% exp m/m
- France January industrial production mm -0.3% vs +0.5% exp
- Spain January retail sales yy -0.1% vs +0.9% prev
- China Feb vehicle sales yy +22.2% vs +0.2% in Jan
Not long to wait now for NFPs and the market has been in wait-and-see mode.
It's going to be a short summary given that very little has happened. Just click on your 5/15 charts for the tight ranges.
USDJPY had an early look at 115.50 as Nikkei closed near its highs only to give up with decent offers/res and large option expiries all around there.
EURUSD has been underpinned still but ran into 1.0620 resistance but EURGBP has held its gains and that's given a push lower to cable to post 1.2140 from 1.2165.
USDCHF has also found a bid again above 1.0100 ( hello SNB) with EURCHF pushing higher to 1.0746.
AUDUSD failed around 0.7530 but found support into 0.7510 with fingers pointed at large options rolling off today.
USDCAD has had a down then up morning between 1.3510 and 1.3485 with option expiries at 1.3500 in play.
Gold, oil and equities all remaining on the back foot but steady.
Bring on the NFPs !
