Forex trading news and economic data headlines 2 Nov 2016
News:
- FOMC Preview: Nomura looking for a change only in first paragraph
- EURCHF falls to 4-month lows as US election jitters prevail
- Brexit talks may get vicious says Irish PM Kenny
- It's worth it for the EU to fight so that Brexit doesn't happen in the end
- It's not just the BOE we have to watch out for tomorrow
- Pound shows some signs of life as GBPUSD tests 1.2300 again
- BOJ's Kuroda says central banks lose trust in times of hyper inflation
- More from Kuroda: BOJ considering exit strategy but too early to discuss specifics
- German engineering hits the skids in September
- S&P affirm India's ratings at BBB-/A-3 with outlook stable
- Option expiries for the 10 am NY cut today 2 Nov
- More option expiries of note over the next few days
- Nikkei 225 closes down -1.76% at 17,134.68
Data:
- October 2016 UK Markit CIPS construction PMI 52.6 vs 51.8 exp
- Germany unemployment change Oct -13k vs -1k exp
- Eurozone Markit mftg PMI Oct final 53.5 vs 53.3 exp
- Germany Markit Oct PMI final 55.0 vs 55.1 exp
- UK Nationwide house price index Oct mm 0.0% vs +0.2% exp
- France Markit mftg PMI Oct 51.8 vs 51.3 exp
- US MBA mortgage application -1.2% vs -4.1% prior
- Italy Markit/ADACI mftg PMI Oct 50.9 vs 51.4 exp
- Spain Markit mftg PMI Oct 53.3 vs 52.6 exp
- Switzerland UBS Q3 real estate bubble index 1.35 vs 1.32 exp
A busy session as US election jitters continue and markets have more than a passing interest in the FOMC announcement later.
Lots going on and far too many moves to itemize here but the gist is a weaker US$, and EURUSD up through 1.1100 before being sold again as GBP rallies later in the session.
EURGBP is on the retreat again as traders cover positions ahead of tomorrow's BOE decision and now the news that the UK High Court ruling on Brexit will be made tomorrow.
USDJPY has fallen to 103.10 on the risk-averse sentiment in a move that has seen USDCHF down to 0.9695 before finding a little help but SNB not cited at this time. EURCHF has climbed off 4-month lows of 1.0754 but failed to hold rally over 1.0780
Oil and equities both on the back foot . NZDUSD still enjoying a rally as are AUD and CAD amidst all the USD selling.
Lots going on as I said and we're in blink n you miss it mode again.
FOMC on the agenda at 18.00 GMT
