Forex trading news and economic data headlines 21 Nov 2016
News:
- UK's CBI: We need government assurances for a smooth Brexit transition
- UK budget preview: Will the pound count the cost of Hammond's Autumn statement?
- Germany's Schaeuble says he would prefer to start ending unusually expansive QE as soon as possible
- German growth to pick up significantly in Q4 - Bundesbank
- BOJ's Masai hopes US government continues to take appropriate policies to drive growth
- EURCHF rallies with SNB in the frame once again
- Euro rally runs out of steam after early impressive form
- What's on the card for these 5 currencies this week?
- Goldman Sachs raises Q1 and Q2 2017 WTI forecasts to USD 55.0
- Indian train crash fatalities expected to rise further
- FX option expiries of note this week 21-25 Nov
- Option expiries for the 10 am NY cut today 21 Nov
- Nikkei 225 closes up +0.77% at 18,106.02
Data:
- Japan Oct convenience store sales yy +0.2% vs 0.0% prev
A lively enough start to the week that has seen USDJPY give up its gains above 111.00, euro retreat after an early surge and cable also seeing good two-way business.
USDJPY had broken up in Asia through the 111.00 barrier option but then ran into a fresh round of exporter supply at 111.20 and after wiping its feet we saw a move down to 110.54. Decent demand though down there but we've been unable to get back up through 111.00 since.
Euro pairs found support on better bond performances and led by EURUSD to 1.0649 as USD supply returned generally. EURGBP rally to 0.8639 from 0.8590 sent GBPUSD down to 1.2313 though before the euro rally came to a grinding halt with sell interest across a range of EUR pairs capped further moves. EURGBP has fallen to 0.8583 sending GBPUSD back to session highs of 1.2408.
SNB mooted behind the move on EURCHF to 1.0741 from 1.0700 lending support on USDCHF at 1.0080 which held despite the EURUSD rally.
AUDUSD had tested 0.7300-10 in Asia but was already on the rise when the USD supply took it up to 0.7376 while USDCAD has capped at 1.3480 with oil prices finding a base after an early wobble.
A session light on data has two CB talking heads in Draghi and Fischer later to throw in to the mix.
