Forex trading news and economic data headlines 22 Nov 2016
News:
- US president-elect Trump to quit TPP on first day in office
- Window for Brexit negotiations is 14-15 months says EU's Verhofstadt
- Finding order within the GBPUSD chaos
- Trump says UKIP leader Nigel Farage "would do a great job" as Ambassador to the US
- UK tells Trump "there is no vacancy" for the job of Ambassador to US
- Cable finds dip demand again as EURGBP retreats
- It's not fair to ask us to cut output says Iraq
- All countries at OPEC technical meeting likely to be in agreement by end of day
- USDCAD being pulled around by oil price again
- Don't point the fiscal spending finger at us says Germany's Schaeuble
- German institute sees German GDP of 1.75% this year
- RBA's Kent wouldn't like to see wage growth slow further
- RBA's Kent sees reasonable prospects for overall strong economic growth
- RBNZ's Bascand says global disinflation will remain a headwind to NZ inflation target
- UBS expect EURCHF to reach 1.1100 by end-2017
- 1 injured in explosion in Philadelphia
- Option expiries for the 10 am NY cut today 22 Nov
- Nikkei 225 closes up 0.31% at 18,162.94
Data:
- October 2016 UK PSNB 4.301bn vs 5.900bn exp
- November 2016 UK CBI industrial trends orders -3 vs -9 exp
- Switzerland trade balance Oct CHF +2.68bln vs +3.88bln exp
- Japan nationwide department store sales Oct yy -3.9% vs -5.0% prev
Some good volatility again as markets, robots and traders continue to hop around on hot coals.
Lots going on that has seen oil prices rally strongly, GBP sellers return, USD come under a little pressure again with CHF pairs still underpinned after yesterday's SNB support.
USDJPY had an early look at 111.25 again after the earthquake dip 110.27 but failed to hold those gains and once again fell to test 110.50.
EURUSD had a rally of its own to 1.0658 running a few stops before heading back down to 1.0620 and that in turn sent EURGBP below 0.8530 after 0.8558 highs.
The EURGBP rally had sent GBPUSD plunging to 1.2423 from 1.2480 but then the reverse was almost true but with the rally failing above 1.2460.
USDCAD fell to 1.3378 from 1.3425 as oil opened up the session in strong rally mode but as the black stuff capped so USDCAD rallied back above 1.3400.
AUDUSD took advantage of the early USD supply to post 0.7414 clearing out a few offers along the way around 0.7400 while NZDUSD has had a down n up ride between 0.7050-0.7080
Canadian retails data to throw into the mix at 13.30 GMT then US housing data at 15.00 GMT
