ForexLive morning news wrap: Markets dancing on hot coals again

Author: Mike Paterson | Category: News

Forex news for the European morning trading session 10 Oct 2017

News:

Data:
Here are your headers from a busy session that's seen good albeit scrappy opportunities with some blink-and-you-miss-it moves in tight ranges.

Traders/bots are skittish on the Catalonia unknowns plus the ongoing Brexit and US/UK rate hike conjecture to name just a few areas of concern/volatility.

P/A summary:
  • GBPUSD generally underpinned and tested the sell interest between 1.3180-00 helped by better UK production data . Quick pop to 1.3204 but then retreat into 1.3180 again
  • EURUSD found support into 1.1760 and rallied to post 1.1807 taking out a few stops into 1.1800 before falling back below 1.1780 and finding fresh demand
  • USDJPY opened up around 112.70 but has made stead losses down to 112.27 on fresh yen safe-haven demand and general USD supply
                                                       USDJPY 15m
  • USDCHF has been tightly bound but in gentle decline from 0.9790 to 0.9760 with EURCHF also retreating to 1.1510 from 1.1526
  • AUDUSD failed into 0.7800 from 0.7780 and ranged between the two levels
  • USDCAD had traded 1.2510-30 in Asia but we've now had a test of 1.2500 and stayed 00-20 as oil firms
  • NZDUSD traded 0.7060-80
  • Gold has made steady gains from $1286 to $1292
  • Oil also has rallied on hawkish talk from OPEC re oil output/demand with WTI climbing from $49.80 to $50.56.
Euro/market risk event at 16.00 GMT with the planned address by Catalonian president amid talk of independence.

Data calendar here