Forex news for the European morning trading session 29 Nov 2017
News:
- Barnier says he hopes to report to EU about Brexit bill agreement in coming days
- Barnier: I will try to prevent a hard Brexit
- More from Barnier: UK still has the option to remain in the EU
- Irish minister McEntee: UK has changed positions on the bill
- GBPUSD pops 1.3400 as hopes of Brexit bill agreement continue
- BOE's Cunliffe says pay growth remains a concern
- BOE's Cunliffe says Bitcoin not at a size where it's a threat to global economy
- Iraq says they support extending oil output cut deal by 9 months
- Bundesbank: Risks of low interest rates and strong growth may be underestimated
- ECB's Constancio says there is no policy that doesn't have collateral effects
- BOJ's Nakaso: BOJ must continue to conduct monetary policy in appropriate manner
- More from Nakaso: BOJ has necessary tools to exit QE
- Kremlin says North Korea missile launch was a provocative act
- Markets unfazed by North Korea missile launch
- Forex option contract expiries for today 29 Nov
- ECB says growth supports financial stability but markets remain vulnerable
- USD/CAD breaks out of range, looks to extend gains
- Barclays sees an opportunity for CAD shorts ahead of OPEC meeting
- LGT Bank: Time to move away from emerging Asian currencies
- China commerce ministry dissatisfied with US on aluminium trade probe
- Trading ideas for the European session
- Nikkei 225 closes up +0.47% at 22,597.20
- Forexlive Asia-Pacific news wrap: Bitcoin tops $10K. N. Korea brags about missile capabilities
Data:
- France Q3 prelim GDP +0.5% vs +0.5% expected q/q
- UK October mortgage approvals 64.6k vs 65.0k expected
- Eurozone November consumer confidence 0.1 vs 0.1 expected
- Baden Wuerttemberg Nov CPI mm 0.4% vs -0.2% prev
- Brandenburg Nov CPI mm 0.4% vs 0.1% prev
- Saxony Nov CPI mm 0.3% vs 0.0% prev
- Spain Nov CPI mm provisional 0.4% vs 0.5% expected
- Switzerland Nov Credit Suisse investor confidence 40.7 vs 32.0 prior
- Switzerland October UBS consumption index 1.54% vs 1.56% prior
A busy session for the most part that's seen the pound extend gains on Brexit bill agreement reports ( still denied by both sides) while the euro found some love from stronger German regional CPI data only then to retreat.
GBPUSD needed little encouragement to break up through 1.3400 in early European trading having held 1.3375-80. Highs then seen of 1.3430 before fresh sell interest/res/profit-taking kicked but retreat has been limited to 1.3390.
EURGBP demand again, possibly month-end related saw highs of 0.8865 from 0.8840 only to give up those gains post lows of 0.8832 with EURUSD falling from 1.1880 to 1.1835 in rapid time with stops triggered through 1.1850. EURJPY was capped by the sell interest on both core pairs and falling to 132.05 from 132.39.
EURUSD 15m
USDCAD rallied to 1.2849 as oil fell but then the reverse was true and the pair has been down to 1.2820.
AUDUSD and NZDUSD both on the back foot mostly with lows of 0.7577 and 0.6910
Data and event risk inc US Q3 GDP with Carney and Yellen up to the mic
