Forex news for the European morning trading on 9 Aug 2017
News:
- Swiss franc finds a few sellers again after early rapid gains
- CHF and JPY back in demand as risk-off sentiment prevails again
- Can we expect the SNB to step back in to stem CHF strength?
- BOE agents report says uncertainty continues to weigh on longer term business spending
- Is there any credibility to Trump's comments
- North Korea potential scenarios for conflict
- North Korea's talk no threat to Guam - Governor
- Qatar dispute will delay UK-Gulf trade talks
- Saudi Arabia and Iraq oil talks underway
- Soldiers hit by vehicle in France
- AUDJPY the risk barometer down sharply
- Gold rallies on safe-haven bid
- Merkel's Conservatives keep 40% share of support in latest election poll
- Equity markets open down across the board
- A snapshot of New Zealand's economy since the last RBNZ meeting
- RBNZ negative bias - ANZ Bank
- Forex option contract expiries for today 9 Aug
- Emerging market carry trade still good - Societe Generale
- Nikkei 225 closes down 1.29% at 19,738.71
- ForexLive Asia FX news wrap: Yen higher on fiery Nth Korea rhetoric
Data:
- US MBA mortgage applications 3.0% vs -2.8% prior
- Bank of France July business sentiment 105 vs 103 exp
- Italian June industrial production 1.1% m/m vs 0.2% exp
- Greek July CPI 1.0% y/y vs 1.0% prior
- Japanese July machine tool orders 26.3% y/y vs 31.1% prior
- Netherlands June manufacturing production -0.3% m/m vs 2.0% prior
A busy session that initially saw some money coming off the table after yesterday's moves but risk-off sentiment was quick to return with CHF demand leading the way.
The pound felt the love early on with GBPJPY demand leading GBPUSD up to test 1.3030 offers/res from 1.2985 and EURGBP falling to test 0.9020 again.
Then it was all about Korea and risk-off again in a move that saw USDCHF drop sharply from 0.9680 to 0.9640 then again to 0.9612 with EURCHF tumbling to post 1.1271 from 1.1380.
USDJPY fell to lows of 109.65 after failing to hold above 110.00 and yen demand generally was in evidence with GBPJPY falling back to 142.60 from 143.35.
We've seen some correction though in the latter part of the session and USDCHF has been back above 0.9640 and EURCHF 1.1320 with USDJPY up around 109.85.
EURCHF enjoying a lively session
AUDUSD held 0.7850 in the early AUDCHF and AUDJPY selling but has now rallied to 0.7890 as some money comes off the table.
USDCAD has had a quiet time of it between 1.2670-90 and NZDUSD has also been relatively quiet waiting on the RBNZ.
Equities opened lower and extended those losses with CAC40 and DAX leading the way. Gold was feeing the love though and tested $1270 from $1264.
Quiet slate data-wise it's been a quiet one but have US productivity and crude oil inventories to throw in to the mix later.
