Forex news and economic data headlines 27 September 2016
News:
- Japan's Abe says he has faith in BOJ governor Kuroda
- BOJ's Nakaso says Japanese growth potential has fallen below 0.5%
- BOJ's Nakaso says structural reforms to boost growth are crucial
- Saudi oil minister sees healthy oil demand growth
- Saudi oil minister says oil market is trending in right direction
- Yen demand returns as equities fall again
- AUSDUSD retreats after failing to breach 0.7700
- Option expiries for the 10 am NY cut today 27 Sept
- Nikkei 225 closes up +0.84% at 16,683.93
Data:
- Germany import price index Aug mm -0.2% vs -0.1% exp
- Italy industrial orders July mm -10.8% vs -2.8% prev
- UK CBI retail reported sales Sep -8 vs +5 exp
A lively session that's seen risk-on sentiment switch to risk-off as equities plunged from opening positive levels with markets still trying to make their mind up over last night's Clinton/Trump show.
Risk-on was the order of the day in the opening salvo, a sentiment that saw prime-mover GBPJPY rally to 131.22 taking GBPUSD up to 1.3009 from 1.2970 and USDJPY to 100.99.
EURGBP fell below 0.8650 as EURJPY remained anchored while AUDUSD tested strong offers at 0.7700 in the yen-supply move.
Cue a move into negative territory for equities at accelerating pace and it was a sharp about-turn that has seen risk-off prevail and yen demand prevail at pace with GBPJPY down to 129.90
GBPUSD has fallen back to 1.2938, USDJPY 100.32 and AUDUSD 0.7656 while CADJPY selling saw USDCAD rally sharply to 1.3231 having found demand into 1.3160 again helped by retreating oil prices.
A quiet day on the data front and little by way of rhetoric but with markets dancing on hot coals over Trump and Clinton we can expect further thrills n spills before the day out .
