ForexLive European morning news wrap: Markets in fragile mood still

Author: Mike Paterson | Category: News

Forex news for the European morning trading session 6 Sept 2017



It's all so scrappy still as markets, traders and bots remain in skittish mood.

After yesterday's EURGBP fall we've seen some decent recovery from 0.9133 to 0.9165 and that's helped to underpin the euro again with EURUSD testing 1.1950 and EURJPY to 130.00 before a general euro retreat. Fickle and some.

GBPUSD had an early look below 1.3020 but that support area held to encourage a move back to test 1.3050 with GBPJPY volatility on both sides adding to the cable p/a.

                                                            GBPJPY 15m

On that note USDJPY has also had a couple of wobbles but finding dip demand around 108.50 to post 108.96 highs while USDCHF has generally had the morning off around 0.9545 but advancing toward 0.9560 as I type.

USDCAD has the BOC rate announcement at 14.00GMT in focus and therefore been largely AWOL between 1.2375-95.

AUDUSD saw a retreat from 0.8022 to 0.7980 in Asia and a failure to get back above 0.7995-00 has signalled a further fall to 0.7968.

                                                      AUDUSD 15m

Gold has had the morning off between $1338-1342 while oil  has firmed and equities have mostly erased early losses.

We have Canadian trade data at 12.30 GMT ahead of the BOC at 14.00 GMT with US ISM readings also out at that time.