Session Wraps - Major Forex Headlines wrapped up by trading session

Author: Mike Paterson

Forex news for the European morning trading on 22 Aug 2017

News:

Data:

A busy little session that has seen USD demand prevail overall but that's not been the whole story.

What started as USD demand morphed into JPY and CHF demand/risk-off plays.

Equities remained in positive territory but oil retreated  and combined with sell/resistance areas on USDJPY and (to a lesser extent) USDCHF we've seen caps at 109.47 with 109.50 the start of the 50-60 resistance area I highlighted earlier a couple of times, and 0.9665.

After failing above 1.2900 in Asia again GBPUSD has tested 1.2800-20 support/bids with GBPJPY falling to 140.07.Similarly EURUSD down to 1.1745 from 1,1805 with EURJPY down to 128.35. 

                                                         GBPUSD

The same pattern can be seen on AUDJPY and NZDJPY sending the core pairs to 0.7898 and 0.7275 respectively.

EURCHF down to 1.1345 on those USDCHF offers and euro supply which is helping to cap EURGBP too above 0.9170.

USDCAD has traded 1.2580-98 with large option expiries at 1.2600 in play and helping to cap despite oil trading a bit softer.

ECB's Constancio speaking at the top of the hour with Canadian retail sales next on the data slate at 12.30 GMT

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Author: Eamonn Sheridan
2

Forex news for Asia trading Tuesday 22 August 2017

USD/JPY was a mover here in Asia today, higher during the Tokyo morning. It finished the US session in a choppy 108.80/90 sort of range before popping higher, above 109 then 109.10 , consolidating there and then adding to its gains towards 109.30 where it has so far halted. There are reported stop loss buyers clustered above 109.50, something to be aware of should we approach there.

There was some movement in other currencies in the early part of the USD/JPY gain, AUD/USD popped toward 0.7950 but has since given back all of its (admittedly small) gain.

Elsewhere EUR/USD has traded a small range, trying circa 1.1820 and then slipping back to under 1.1810. The CHF is a little weaker against the USD also, but again a small range; above 0.9630 as I update. Cable found selling ahead of 1.2910 and is under 1.2890 as I post - a small range here also.

USD/CAD is little net changed on the session while NZD/USD is near its session low. Gold is off a few dollars.

The People's Bank of China set the CNY mid-rate against the USD at its strongest since September 22 last year.

News and data flow was light, the focus (if there was one) was US President Trump's speech on Afghanistan strategy (see bullets above).

Regional equities:

  • Nikkei +0.21%
  • Shanghai +0.15%
  • HK +1.07%
  • ASX +0.35%

Still to come:

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Author: Adam Button

Forex news for North American trading on August 21, 2017:

Markets:

  • S&P 500 up 4.5 points to 2430
  • WTI crude up $1.08 to $47.43
  • US 10-year yields down 1.2 bps to 2.18%
  • Gold up $7 to $1291
  • EUR leads, USD lags

The sun didn't shine on parts of the US Monday and it didn't shine on the US dollar as it struggled.

I expected very light trading because it's an August Monday and nothing was on the calendar except the solar eclipse but the market was busy.

The big move came in EUR/USD. The pair grinded lower in European trading and hit 1.1731 before rising to 1.1750 as New York rolled in. From there a steady bid appeared and remained a near-constant in a climbed to 1.1828 as the eclipse began on the west coast. From there, the US dollar showed a bit of life and the pair slipped back to 1.1809.

A similar theme on a smaller scale unfolded elsewhere. The dollar was weak early on but stabilized and bounced late in the day. USD/JPY continues to flirt with some huge levels but held Friday's low and crept up to 108.89 late. It was still a 30-pip loss on the day and that isn't encouraging if you were hoping these levels would hold.

USD/CAD was an interesting case. The loonie was the top performer last week but oil fell 2.4% to start the week and that would usually put some upward pressure on the pair. That was hardly the case as it stuck to the bottom of the daily range ahead of Tuesday's retail sales report.

Cable grabbed some attention as it took advantage of US dollar weakness to push above 1.2900 but it didn't get very far, peaking at 1.2916 and then finishing the day just below the big figure.

AUD/USD finished the day 10 pips higher after falling in Europe. There are increasing concerns about the Chinese property investment crackdown and iron ore prices so AUD could be on the move this week.

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Author: Mike Paterson

Forex news for the European morning trading on 21 Aug 2017

News:

Data;

A tale of two halves in this session as early risk-off safe-haven demand for yen and swiss franc helped core pairs lower but then failure to break support levels meant it was time to try the other side.

GBPUSD failed at 1.2880 and with GBPJPY down to 140.10 from 140.70 needed little encouragement to head down and test 1.2850.

EURJPY down to 127.85 and AUDJPY down to 86.18 sent EURUSD  down to 1.1730 from 1.1760 with AUDUSD 0.7911 from 0.7934.

When the whistle went for the start of the second half though it was time to reverse those moves and that's still going on to post session highs as I type.

                                                GBPJPY 15m

GBPUSD has been back up to take out 1.2880-85 offers/res to test 1.2900 while EURUSD rises to session highs of 1.1770 as EURJPY rallies to 128.32 and EURCHF to 1.1377.

USDJPY and USDCHF have also bounced to 109.16 and 0.9685 before both running into fresh sellers.

Oil has been mostly underpinned and that's seen USDCAD fall from 1.2607 to 1.2584 while equities opened on the back foot and have mostly stayed there.

No data of note today so let's see what NA desks want to bring to the party.

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