Forex news for European morning trading on July 27 2017
News:
- Swiss franc on another sell spree
- EU's Barnier says talks on life after Brexit likely to be delayed
- UK's Rudd says UK will apply its own immigration rules after Brexit
- Sanctions situation is another difficulty in Germany's relationship with US
- Euro steadies after a post-FOMC rally reality check
- Forex option contract expiries for 27 July
- China should sacrifice some economic growth to deal with systemic risks
- Nikkei 225 closes up +0.15% at 20,079.64
- ForexLive Asia FX news wrap: AUD surges again
Data:
- UK CBI July reported retailing sales 22 vs 10 exp
- Eurozone June M3 money supply yy 5.0% as expected
- Germany August GFK consumer confidence 10.8 vs 10.6 exp
- Spain Q2 unemployment rate 17.22% vs 17.8% exp
It's been a soggy session for the euro after it's post-FOMC rally but CHF selling and with it the strong EURCHF gains have helped limit losses elsewhere.
EURUSD has been drawn by 1.1700 option expiries to fall from 1.1760 to 1.1703 while EURGBP has come down to test 0.8900 from 0.8945. EURJPY ran into decent offers/res above 130.50 again but found support at 130.20
EURCHF however has marched ever higher picking up from yesterday's charge higher and today's 1.1247 highs from 1.1160 are now the highest seen since that eventful day in January 2015. With EURUSD largely pinned around 1.1720 before its further drop to 1.1703 we saw USDCHF spike test 0.9600 from 0.9500-20
USDCHF 15m
GBPUSD has remained underpinned above 1.3120, helped by the falling EURGBP, after its retreat from 1.3157 Asian highs
AUDUSD had a good time of it early on to breach 0.8060 after the Asian rally from 0.7985 but it too, like the euro, has had a bit of a reality check and fallen back to 0.8007. Similarly,but not to the same extent, NZDUSD had fallen to 0.7520 from 0.7558 highs in late-Asia.
USDCAD has traded tightly mainly between 1.2440-60 rallying a tad on general USD demand and softer oil.
US durable goods now the main data risk at 12.30 GMT
