Forex news from the European session 27 Oct
News:
- Japanese officials see no need for for BOJ action now - Livesquawk
- Nowotny says ECB conducts QE to prevent a fall in inflation
- ECB's Praet says weak French growth is surprising
- EU to agree Greek lenders ' recapitalisation by year-end
- Removal of interest rate cap is not weaker management - PBOC
- UK facing clear global risks says Osborne
- Bernanke says governments have been too obsessed with making budget cuts
- Option expiries 10am NY cut today 27 Oct
Data:
- Q3 2015 UK preliminary GDP 0.5% vs 0.6% exp q/q
- Eurozone M3 money supply Sept yy +4.9% vs +5.0% exp
- Switzerland UBS consumption indicator Sept +1.65 vs +1.64 prev
It's been another session of consolidation that has seen the euro mostly on the back foot but with the pound recovering its poise after a post-GDP wobble
USDJPY began the session by finding support at 120.50 after a Nikkei-led fall but then EURJPY stop-losses were triggered through 133.60 to post 132.95 and send both core pairs lower
Softer than expected UK Q3 GDP saw cable dip to 1.5305 from 1.5335 but was soon finding buyers again as traders took profit on pre-empted short positions. EURGBP similarly bounced from 0.7192 to 0.7210 and the same pattern applied to all GBP pairs
USDCHF has looked solid again to post 0.9850 from 0.9820 prompting more talk of SNB help with EURCHF also rallying to 1.0890
AUDUSD and NZD have had the morning off while USDCAD had a look up at 1.3200 only to retreat.
US durable goods data at 12.30 GMT should create some knee-jerk but it's still all eyes on the Fed and the bigger picture tomorrow
