Forex news for the European morning trading session 2 Oct 2017
News:
- Spain prepared to suspend Catalan autonomy if independence is claimed
- EU Commission says Catalan referendum was not legal
- Death toll in Las Vegas shooting rises to more than 20
- Merkel's CDU and rival SPD neck and neck in key regional election poll
- UK's Hammond says Brexit negotiation uncertainty is one challenge to the economy
- UK's Hammond says business wants to hear that there will be a smooth path on Brexit
- Monarch Airlines in administration as weaker pound post-Brexit takes its toll
- Forex option contract expiries for today 2 Oct
- Jury out on European equities as Spanish markets open lower
- Trading ideas for the European session
- Nikkei 225 closes up 0.22% at 20,400.78
- ForexLive Asia FX news wrap: Spanish politics the focus
Data:
- Eurozone August unemployment rate 9.1% vs 9.0% exp
- Eurozone Markit Sept mftg PMI final 58.1 vs 58.2 exp
- Germany Markit/BME Sept mftg PMI 60.6 as exp
- France Markit Sept mftg PMI final 56.1 vs 56.0 exp
- UK Markit Sept mftg PMI SA 55.9 vs 56.2 exp
- Italy August unemployment rate 11.2% as expected
- Italy Sept mftg PMI 56.3 vs 56.8 exp
- Spanish mftg PMI shows an improvement in September
- Switzerland Sept mftg PMI at 61.7 vs 61.7 prev
- Japan Sept vehicle sales yy 0.4% vs 4.7% prev
It's been a session of great emotion following yesterday's shocking scenes from Catalonia and truly awful news unfolding this morning of a crazy man opening fire at concert goers Las Vegas and killing 50.
It makes the rest of what I am about to write somewhat secondary so I shall gladly keep it brief. Just take a look at your charts for more p/a detail.
- USD demand prevailing across the board
- GBPUSD down to 1.3296 from 1.3375 as the recent rate hike hype buying up to 1.3650 unwinds. Still falling as I type.
GBPUSD 15m
- EURUSD 1.1730 lows/vulnerability from Catalonia referendum and USD buying tempered by strong EURGBP demand at 0.8800 to post 0.8839 and helping to cap cable
EURGBP 30m
- EURCHF falls to new recent lows of 1.1383 from 1.1430 as CHF save haven and euro wobble generally combine. USDCHF gains tempered above 0.9710
- USDJPY underpinned around 112.70 but rally failing at 113.05 again
- AUDUSD ranging tightly 0.7800-20 ahead of RBA decision tomorrow
- USDCAD drifted higher to 1.2520 from 1.2485 on firmer USD/softer oil combo
Data wise we have US ISM and Canadian mftg PMI to throw into the currently heady mix.
