Forex trading news and economic data headlines 16 Nov 2016
News:
- Fed's Bullard sees rates staying low while SNB's Jordan says Franc remains high
- Bullard: There would have to be a surprise at this point for the Fed not to hike in Dec
- US Fed's Bullard says one rate increase, possibly in Dec, may be enough to move monetary policy to neutral
- More from Bullard: Pre-election fears of shock to markets of Trump win have not materialised
- German intelligence is worried that Russia could interfere with national elections
- Brexit is lose/lose says EU's Dijsselbloem
- Bundesbank says German banks may be under-estimating risks
- SNB's Zurbruegg says Brexit impact on CHF much less than expected
- ECB's Nouy says they must rethink the regulatory treatment of sovereign bonds
- France's Macron throws his hat in the presidential ring
- Canada's Morneau says they stand ready to work with UK after Brexit
- China's commercial banks net Oct FX sales USD 14.6bln vs 28.4bln in Sept
- Inflation worries top the list for UK households
- ForexLive Education: Option contracts, their impact and how to trade off them
- Option expiries for the 10 am NY cut today 16 Nov
- More FX option expiries of note coming up
- Nikkei 225 closes up +1.1% at 17,862.21
Data:
- October 2016 UK claimant count 9.8k vs 2k exp
- November 2016 Swiss ZEW investor sentiment 8.9 vs 5.2 prior
Busy times again that's seen USD demand prevail once more.
USDJPY had a brief look at 109.00 pre-Europe but since then it's been one-way traffic pausing for breath only at 109.50. Strong offers between 109.80-110.0 capping so far.
EURUSD has headed lower to take out the reported barrier option at 1.0700 but still finds dip demand and has provided good two-way opportunity. EURGBP had a look below 0.8580 but found buyers to return it to 0.8605 which in turn helped push GBPUSD down to 1.2436 and then 1.2409.
USDCHF has remained underpinned above 1.0000 with the SNB never far away while AUDUSD has fallen to 2-month lows of 0.7465
Oil and equities have both been on the back foot. Oil price retreat has also helped put a bid under USDCAD and sent it back to 1.3500 from 1.3425.
US PPI and Canadian mftg data to follow to throw into this currently heady mix.
