Forex news for European morning trading on 4 Aug 2017
News:
- BOE's Broadbent says weaker pound the main reason for inflation rise
- More from Broadbent: Should not overdo concerns about hiking
- ForexLive's Paterson says it's important to keep GBP falls in context
- Cable kicking higher in early London trade
- GBPJPY snaps a major support trendline on dovish BOE
- A snapshot of US average earnings ahead of non-farm payrolls
- All quiet on the trading front as markets wait on NFPs
- Forex option contract expiries for 4 August
- Andy Hall aka "God" closes down his main hedge fund
- Canadian bond fund manager says BOC hawkishness a mistake
- All analysts see RBNZ on hold at 1.75%
- New Zealand construction sector struggling to find labour
- Next week's event risk - get prepared
- Elon Musk is $5b richer as SpaceX skyrockets
- Sweden's NIER revise growth forecasts
- Nikkei 225 closes down -0.38% at 19.952.33
- ForexLive Asia FX news wrap: Australia data beat, weak RBA jawbone helps AUD
Data:
- German June factory orders 1.0% m/m vs 0.5% exp
- German July construction PMI 55.8 vs 55.1 prior
- Eurozone July retail PMI 51.0 vs 53.2 prior
- German July retail PMI 54.1 vs 54.5 prior
- French July retail PMI 50.7 vs 56.3 prior
- UK July new car registrations -9.3% y/y vs -4.8% prior
- Italian June retail sales 1.5% y/y vs 1.0% prior
- Spanish June industrial production 2.7% y/y vs 2.8% exp
A quiet session as US NFPs and wages data cast their not inconsiderable shadow over proceedings.
GBPUSD caught a bid early on with a combo of Broadbent comments, failure to break lower, and general USD softness helping it up to post 1.3165 from 1.3135 but it was short-lived and we've since retreated back to from whence we came.
EURGBP had a look at 0.9025 from 0.9040 but also found fresh demand down there with EURUSD posting higher at 1.1890 from 1.1875 only to fall back to the starting line.
USDJPY has flat-lined between 110.00-20 after testing 109.80 again in early Asian trading while USDCHF has also been tightly bound between 0.9670-90. EURCHF has seen a but of the general euro retreat and dipped from 1.1510 to 1.1485.
AUDUSD has traded 0.7960-80 with option expiry interest at 0.7950 while NZDUSD has found a few buyers to 0.7453 from 0.7425 with AUDNZD retreating. USDCAD has been range bound 1.2560-80 with a gentle rise through the session with oil tightly bound.
It's all about the data though at 12.30 GMT and here's the expectations:
