Forex news for the European morning trading session 1 Nov 2017
News:
- Trump to "step up" vetting measures in wake of NY terror attack
- BOE's Woods says 75000 financial sector job losses post-Brexit is plausible
- Moody's say chances of a Brexit "no-deal" are substantial
- It's not only the BOE expectations keeping GBP underpinned
- Japanese Lower House re-elects Abe as PM
- BOJ's Ito expects inflation to hit 2% in fiscal year 2019
- Potential BOJ Gov Candidate Ito: No exit with inflation under 1%
- Forex option contract expiries for today 1 Nov
- PBOC issued a total of 24.95bln yuan via SLF in Oct
- Trump, Putin and Xi will meet next Monday. The venue is a monkey themed hotel ...
- Australian politics - Senator Parry confirmed to be dual-citizen with the UK
- Trading ideas for the European session
- Nikkei 225 closes up +1.86% at 22,420.08
- ForexLive Asia FX news wrap: NZD surges on jobs beat
Data:
- UK Markit Oct mftg PMI SA 56.3 vs 55.9 exp
- US MBA mortgage applications w-e 27 Oct -2.6% vs -4.6% prev
- UK Nationwide Oct HPI mm 0.2% vs 0.2% exp
- Brandenburg Oct CPI mm -0.1% vs 0.2% prev
- Switzerland SVME Oct PMI 62.0 vs 61.3 exp
- Australia Oct commodity index SDR yy 9.1% vs 19.4% prev
Firstly I should note another truly awful terror incident, this time in NY. Our thoughts and sincere condolences to all those who have suffered.
Market-wise it's been a steady session with FOMC and BOE in focus and that's helped contain ranges across the board.
GBPUSD has been supported a) by BOE rate hike expections and b) large option expiry interest at 1.3265 but although it chewed through 1.3300 on better PMI data we still can't hold above 1.3320.
EURGBP has used the perky pound to continue its journey south to 3 1/2mth lows of 0.8738 with the pound also being underpinned by GBPJYPY demand with yen and swiss franc weakness in the face of stronger equity/oil showings. USDJPY has failed to breach 114.00 yet though with option expiry interest there and at 114.50 again.
EURUSD has looked a little soft but going nowhere in a hurry between 1.1625-55 caught up in the cross play crossfire. DAX notably higher though and heading for biggest one day gains since Feb
USDCHF and EURCHF both underpinned still but always sellers lurking.
NZDUSD gave up a few of its Asian gains and USDCAD felt some heat from firmer oil price while AUDUSD has retreated from early gains.
US and Canadian data on the slate ahead of FOMC decision at 18.00 GMT
