Forex news for the European morning trading session 2 Nov 2017
News:
- BOE day of reckoning now here but what can we really expect?
- Sterling on the slide as we wait on BOE MPC
- GBP: Trading the Bank of England - views from 10 sell-side strategy desks
- Japan's Aso says BOJ's monetary easing has helped weaken yen and assist exporters
- Forex option contract expiries for today 2 Nov
- Japan's consumer confidence nudges higher in October
- Trading ideas for the European session
- Nikkei 225 closes up +0.53% at 22,539.12
- ForexLive Asia FX news wrap: USD lower in Asia
Data:
- UK Markit/CIPS construction PMI 50.8 vs 48.5 exp
- Eurozone Markit Oct mftg PMI final 58.5 vs 58.6 exp
- Germany Oct unemployment change -11k vs -10k exp
- Germany Markit/BME Oct mftg PMI final 60.6 vs 60.5 exp
- France Markit Oct mftg PMI 56.1 vs 56.7 exp
- Italy Markit Oct mftg PMI 57.8 vs 56.6 exp
- Spain Markit Oct mftg PMI 55.8 vs 54.8 exp
- Switzerland Sept retail sales yy -0.4% vs 0.3% exp
A busy few hours coming up with the BOE and naming of new Fed chair all in the mix.
The session has seen GBP sellers prevail as money comes off the table and/or new shorts being created and we've had GBPUSD fall to 1.3217 from 1.3280 with EURGBP rising to 0.8810 from 0.8770. Overall the pound is coming under pressure.
Elsewhere USDJPY opened cautiously around 113.90 but has stretched its legs to pop up to 114.20 area again while USDCHF remains anchored around 0.9985 after another failure at 1.0035 with EURCHF also falling to post 1.1627.
EURUSD has large option expiries in play and has been contained 1.1625-65
USDCAD has nudged up to 1.2846 from 1.2828 on firmer USD/retreating oil combo while AUDUSD has fallen back through 0.7700 with large options playing out.
US weekly jobless data out at 12.30 GMT but it's the announcement promised by Trump as to the identity of the new Fed chair that will have the markets' attention once we get the BOE out the way.
Not long to wait now.
