Forex news for the European morning trading on 15 Aug 2017
News:
- UK's Davis says Brexit negotiations with the EU are "going fine"
- More from UK's Davis: Brexit transition period must conclude by next UK election
- Even more from Davis : UK expects to have new customs system in place in H1 2019
- EU takes note of UK's Brexit transition period but need to agree on withdrawal terms first
- Cable breaks 1.2900 and continues lower
- Pound under pressure again as EURGBP breaks 0.9100
- North Korea says now is not the time to discuss US detainees
- China repeats call for constraint on Korean peninsula
- USDJPY pauses for breath near session highs
- ECB says asset purchase programme fully within remit
- Man plunges to death from 7th Floor of London Stock Exchange
- Forex contract option expiries for today 15 Aug
- AUDUSD trying to make its mind up after early retreat
- Another GDT auction in the mix for NZD traders today
- Trading ideas for the European session 15 Aug
- Nikkei 225 closes up +1.11% at 19,753.31
- ForexLive Asia FX news wrap: North Korea threat recedes further, yen lower
Data:
- UK July CPI mm -0.1% vs 0.0% exp
- Germany Q2 GDP provisional QQ SA 0.6% vs 0.7% exp
- China July M2 money supply +9.2% vs July 2016 and +9.4% exp
- China's Jan-July FDI down -1.2% yy
- Switzerland July producer and import prices mm 0.0% as exp
- Japan June industrial production mm final 2.2% vs 1.6% exp
A session that started with yen and swiss franc selling on reduced NK tensions also had core pairs underpinned for a while too but that didn't last long as general USD demand prevailed.
EURUSD had a wobble down to 1.1720 from 1.1770 and AUDUSD continued its Asian retreat from 0.7875 to post 0.7875 before both pairs ran into dip demand to post 1.1765 and 0.7846
It was UK inflation data though that remained in focus and as the release time approached we saw the pound drift off in a move that saw GBPUSD fall through 1.2950 as EURGBP tested 0.9080 again after holding 0.9050.
Cue the data and we dipped further to 1.2910 and 0.9100 but decent GBP demand combined with option expiry interest at 0.9100 meant a few buyers held up further falls.
A failure to rally too far though encouraged fresh supply and we eventually saw stops triggered through 1.2895 to post 1.2880 in a rush and then 1.2867 as EURGBP made its way up to take out offers at 0.9120 and 0.9130 before capping. GBP pairs lower across the board.
GBPUSD
USDJPY capped into decent sell interest at 110.50 and USDCHF likewise at 0.9760.
US retail sales data at 12.30 GMT the real data risk on the horizon.
