Forex news for the European morning trading session 24 Oct 2017
News:
- UK economy approaching full capacity says Hammond
- Tusk says EU 27 united in Brexit talks
- ECB expects demand for corporate loans, consumer credit and mortgages to rise further
- Japanese election result will bolster policy implementation say Fitch
- Nippon Life plan to increase holdings of foreign stocks
- Sumitomo Life to increase US bond investments Oct-March
- China's 2017 GDP growth rising to 6.8% say economists
- China's oil imports from Russia at record levels
- Forex option contract expiries for today 24 Oct
- FT on the NZ government announcements and the NZD slide
- AUDUSD falls to session lows as USD demand prevails
- Trading ideas for the European session
- ForexLive Asia FX news wrap: NZD slides under overnight low
Data:
- Eurozone Markit Oct mftg PMI flash 58.6 vs 57.8 exp
- Germany Markit/BME Oct mftg PMI flash 60.5 VS 60.0 exp
- France Oct Markit mftg PMI flash 56.7 vs 56.0 exp
- France Oct manufacturing confidence 111 vs 110 exp
A steady session that has seen limited opportunity in tight-ish ranges but general USD demand mostly prevailing.
USDJPY had an early rally through offers/res between 113.50-60 to post highs of 113.77 so far just shy of decent supply interest between 113.80-00. Yen weakness noted generally.
GBPUSD had a look at the strong resistance/offers into 1.3230 only to fail once again and post 1.3165 as EURGBP bounced off 0.8895 lows and since rally to 0.8928
EURUSD also fell from early 1.1770 highs to post 1.1743 before returning from whence it came in a generally euro-positive mood.
USDCHF and EURCHF have remained underpinned but still failing to make further gains of note.
AUDUSD has posted session/recent lows of 0.7774 from 0.7815 helped by a drop in the gold price while NZDUSD has made a steady retreat from 0.7000 Asian highs to post 0.6919.
USDCAD rallied to 1.2665 from 1.2630 before giving up a few gains as oil price moved steadily higher with WTI posting $52.30 from $51.65
More PMI data out of the US at 13.45 GMT but it's impact has been negligible in Europe.
