ForexLive morning news wrap: Up n down for the pound but not the only story in town

Author: Mike Paterson | Category: News

Forex news for the European morning trading session 13 Oct 2017

News:
Data:

A busy session that's seen a rollercoaster ride for the pound again but with euro under pressure and yen demand notable too to make for a heady mix to end the week.

Early demand for the pound on further stories emanating out of EU draft document on Brexit talks helped GBPUSD rally to 1.3325 as general EUR supply saw EURGBP down through 0.8920 then 0.8900 to post 0.8876. Talk from Germany dampened hopes though and we saw 1.3248, GBPJPY lower and EURGBP back above 0.8920

                                                    GBPUSD 10m

General euro selling was notable as bunds headed higher along with further yen demand as overseas investors noted buying up the Nikkei 225 to 21 year highs. EURJPY down to 132.20 from 132.80 as USDJPY fell through 112.20 then 112.00 to post 111.86.In all cases we've seen some reversals and the jury remains out.

                                                         EURJPY 15m

Elsewhere other pairs have also seen some of the cross play/variable impact but to lesser degree:

  • USDCHF down to 0.9742 from 0.9758 then back up to 0.9760
  • USDCAD up to 1.2480 from 1.2455
  • AUDUSD underpinned around 0.7830 but failing into 0.7850
  • NZDUSD tested 0.7150 from 0.7130 before retreating to 0.7140
  • Gold has been in steady retreat from $1298 to $1292
  • Oil in steady advance with WTI up to $51.80 from $51.20
US CPI data the highlight to come at 12.30 GMT in what promises to be a lively end to the week.