ForexLive morning news wrap: Markets in subdued mood as the week gets underway

Author: Mike Paterson | Category: News

Forex news for the European morning trading session 11 Sept 2017

                                    9/11 - Lest we Forget

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News:

Data:

On the 16th anniversary of the awful, and life-changing, events unfolding in NY markets have been suitably subdued as Hurricane Irma also tries to do its worst.

It's been a session though that has still presented opportunities for those keen/interested enough with the main theme being some renewed weakness based on some less than hawkish ECB comments ( see headlines above)

EURUSD initially dropped to post 1.1995 after comments by Coeure, before rallying to test 1.2030 only to fall back to 1.1990 on further ECB rhetoric. Some large option expiries casting a shadow too.

                                                 EURUSD 60m

EURGBP has continued its recent journey down to post 0.9075 and once again underpinning GBPUSD to post 1.3223 after holding 1.3180. Offers/res around 1.3225-30 still capping so far.

USDJPY held 108.30 after the Asian rally into 108.50 and has since been up to session highs of 108.66 while USDCHF has also been underpinned to post 0.9513.

AUDUSD has also been underpinned around 0.8030 but also running into option interest at 0.8060 while NZDUSD saw a move from 0.7245 to 0.7295 before retreating.

Equities opened well and have gone on to post even bigger gains:

Current levels:

  • FTSE +0.3%
  • DAX +1.05%
  • CAC40 +1.0%

WTI $ 48.05 Brent 53.42

Gold lower at £1336 but steady.

No data of note so we'll see what NA desks now have to offer with eyes concern on Hurricane Irma and its fallout.