Forex news for the European morning trading on 21 Aug 2017
News:
- BUBA in bullish mood for German economy
- EU repeat that "sufficient progress" on Brexit is needed before trade talks with UK can begin
- One person killed, one hurt after car crashes into two bus stops in Marseille
- Yen demand prevailing and sends core pairs lower
- Forex option contract expiries for today 21 Aug
- Ships fooled in GPS spoofing attack suggest Russian cyberweapon
- Nikkei 225 closes down -0.4% at 19,393.13
- ForexLive Asia FX news wrap: Slow start for Asia FX to the week
Data;
- Japan June all industry activity index mm 0.4% as exp
- Greece June current account balance EUR +0.842bln vs +0.91bln June 2016
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.
