Forex trading news and economic data headlines 18 Nov 2016
Here's an education opportunity not to be missed
News:
- Bullard is leaning towards a Dec hike
- ECB's Draghi says they will continue to act as warranted
- UK's Hammond still hoping to achieve a budget surplus
- BOE's Broadbent says the reason for the fall in GBP matters for policy
- BOE independence is not being seriously questioned says Broadbent
- Everything is going positively says Russian energy minister
- Meeting in Doha went well say the Saudis
- Policymakers are ready to slow yuan descent - Reuters
- OPEC proposal would see Iran freeze at around 3.92mbpd
- Germany's Merkel to hold a press conference on Sunday evening
- ECB's Weidmann: No need to respond automatically whenever inflation deviates
- Germany's Schaeuble says must defend EU budget rules to keep euro stable
- 23% of Eurozone sovereign debt below ECB deposit rate
- Option expiries for the 10 am NY cut today 18 Nov
- More FX option expiries of note over the next few days
- Nikkei 225 closes up +0.59% at 17,967.41
Data:
- Eurozone current account September SA EUR +25.3bln vs +29.1bln prev
- Germany October PPI mm +0.7% vs +0.2% exp
It's Friday and as another busy week we've seen some money come off the table.
USDJPY began in buoyant mode given its progress higher in thin Asian liquidity but after failing to take out the next barrier option at 111.00 we've seen a steady decline back towards 110.00 and that's helped cap other core pairs too in a general yen-demand session.
Large GBPUSD option expiry interest at 1.2400 has seen the pair contained but with EURGBP finding decent demand below 0.8530 and a rally to 0.8580 we've seen cable drop back to test 1.2380 support again.
The euro had an early wobble on Draghi comments suggesting accommodative stance here for a while yet and that sent EURUSD looking at 1.0580 but the pair has found decent demand since rally back above 1.0620.
USDCAD option interest at 1.3500, softer USD and firmer oil have all combined to see the pair fall below 1.3500 from 1.3560. AUDUSD has been nudging its way back to 0.7400 from finding support into 0.7360.
Equities started off in positive mode but were soon in the red.
Canadian CPI to come at 12.30 but GBP and CAD traders need to keep an eye on the clock for p/a into 14.00 GMT expiries.
