Forex news for the European morning trading session 30 Aug 2017
News:
- BUBA's Dombret says monetary policy has one goal and that is price stability
- Japan's Noda says she would be scared by BOJ exit stimulus
- CHF finds a few buyers again after strong reversal
- USDJPY in retreat again as rally fades
- Dollar index bounces off May 2016 low, is this the start of a rebound?
- Deutsche Bank: ECB intervention not likely to derail euro strength
- UK's May heads to Japan keen to allay Brexit fears
- Merkel's Conservatives maintain good share of support in latest election poll
- BofAML: What's the trade in commodity FX?
- Moody's raises Euro area forecasts for 2017 and 2018
- When the market turned on its head yesterday
- Oil unfazed so far today, levels to look out for
- Aussie leads the way so far today
- USDJPY pops 110.00 as USD demand prevails
- China trying to stay pat as major central banks tighten monetary policy
- Forex option contract expiries for today 30 Aug
- Bitcoin and the late 90's tech bubble - one in the same?
- Trading ideas for the European session 30 Aug
- Nikkei 225 closes up 0.74% at 19,506.54
- ForexLive Asia FX news wrap: AUD approaches 0.8 again
Data:
- Eurozone August economic confidence 111.9 vs 111.3 expected
- UK July M4 money supply m/m 0.5% vs -0.2% prior
- US MBA mortgage applications index -2.3% vs -0.5% prior
- Spain August CPI mm provisional 0.2% vs 0.3% exp
- North Rhine Westphalia August CPI m/m 0.1% vs 0.4% prior
- Hesse August CPI m/m 0.0% vs 0.4% prior
- Brandenburg August CPI m/m 0.1% vs 0.4% prior
- Bavaria August CPI m/m 0.2% vs 0.4% prior
- Saxony August CPI mm 0.2% vs 0.3% prev
- Switzerland August KOF economic barometer 104.1 vs 107.0 expected
- Switzerland July UBS consumption index 1.38 vs 1.30 prior
- Japan August small business confidence 49.0 vs 50.0 prev
After the fun n games of the past 24 hours we've had a quieter session albeit one not without opportunities for those not still caught in yesterday's headlight glare.
A water-treading start soon turned into USD demand that saw USDJPY pop up through 110.00 and post 110.18 in rapid time only to run into fresh supply and retreat to test 109.80 support lines. USDCHF nudged up to 0.9571 before retreating only to rally again and post new session highs as I type.
GBPUSD opened testing the 1.2920 support areas again and the early USD demand combined with EURGBP rally up to 0.9270 resistance served to send the pair to 1.2896 but has remained underpinned since as EURGBP slides back through 0.9235
EURGBP - Strong resistance building at 0.9270
AUDUSD had failed into 0.8000 in Asia and has continued its retreat to 0.7942 as indeed has NZDUSD down to 0.7230 while USDCAD has rallied steadily from 1.2500 to 1.2545. Large option expiry interest at 1.2450 today.
Equities opened in strong form but oil has dipped while gold has found strong resistance at $1314 but support into $1306.
A decent data slate to follow inc German CPI, US ADP and GDP readings with Fed's Powell speaking at 13.15 GMT
