Forex news for the European morning trading session 20 Oct 2017

News:

Data:

A session that's seen the greenback hold on to a few US tax-led gains but also a perky pound as EURGBP sell interest helps support GBP

After an early look below 1.3100 we've seen GBPUSD climb steadily through various levels of resistance/sell interest to post 1.3180 as EURGBP retreated to 0.8955 after failing into the strong 0.9030 resistance area. EURUSD has been pinned around 1.1800 with large option expiries in play there.

General yen and swiss franc weakness has also helped GBPJPY and GBPCHF higher with USDJPY rising to post 113.44 session highs from 113.13 and USDCHF to 0.9837 from 0.9795

Elsewhere it's all been a little bit quieter with USDCAD and AUDUSD trading tightly and NZD still on the back foot after yesterday's decision by First Party to back the Labour/Green coalition.

Oil spent most of the session in retreat but WTI has found support/demand below $51.00 from $51.80 highs and Brent finding demand around $56.50 from $57.30 highs

Gold also found itself on the back foot falling from $1290 in Asia to $1280 in this session but since clawed back some losses to $1283.50

Equities opened in positive mood and have remained so.

Canadian CPI your data risk at 12.30 GMT then US housing data at 14.00 GMT. US Fed's Mester speaks at 18.00 GMT then Yellen at 23.30 GMT