Session Wraps - Major Forex Headlines wrapped up by trading session

Author: Mike Paterson
3

Forex news for European morning trading on June 26 2017

News:

Data:

A session that started relatively quietly sparked into life when gold plummeted from $1255 to $1238 in rapid time. Similarly yen pairs found a bid as risk-on sentiment prevailed with equities also in positive territory.

GBPJPY posted highs of 142.25 and EURJPY tested 125.00 lifting core pairs to 1.2760 and 1.1209 with USDJPY taking out 111.50 and climbing to 111.73.

Pound pairs were helped by talk of an imminent deal between May and the DUP but ran out of steam prior to the announcement was made and posting 1.2706 with EURGBP back up to test 0.8800 from lows of 0.8773. With the deal signed we've seen a little support back for GBP but caution still prevailing given the tiny majority it gives her and the Queen's Speech still to be passed on Thursday.

USDCHF had rallied from 0.9685 to 0.9730 on the general USD demand as EURUSD fell back to 1.1173 and EURCHF climbing to 1.0880 after holding 1.0850. SNB smoothing can not be ruled out.

AUDUSD retreated from 0.7590 to 0.7570 as gold fell but has been stable since while USDCAD has traded 1.3230-60 with oil also in decline.

Equities opened firmer and have remained in buoyant mood.

US durable goods the data risk at 12.30 GMT then Draghi up to the mic around 17.30 GMT

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Author: Eamonn Sheridan

Forex news for Asia trading Monday 26 June 2017

Weekend:

ICYMI from Friday:

News and data flow was light in Asia today and fairly so over the weekend also. The focus here was on the extra information from the Bank of Japan meeting of June 15 and 16 with the Bank's publishing of its 'Summary of Opinions' for its discussion. The 'Summary' made clear that there are no thoughts of 'tapering' on the BOJ monetary policy board, its full steam ahead for accommodative policy in Japan with the Bank's inflation target still well in the distance despite better signs of growth.

The yen responded with a slight weakening; USD/JPY up 10 to 15 points or so from early levels. EUR and CHF were both contained in small and quiet ranges. USD/CAD and NZD/USD are little net changed on the day.

AUD and GBP both had decent gains against the USD, AUD/USD up to test above 0.7580, where it has encountered some resistance while cable has stabilised somewhat to be just under it session high (circa 1.2750) as I post.

Gold added a dollar or so in early trade but has given it away and more to be around $3 off its session high as I update. A lacklustre range there also.

Oil has ticked a few cents higher in opening trade for the week within a small range also.

In China the People's Bank of China did not conduct OMO's again today (there were none on Friday); maturities meant a net drain of 50bn yuan from money markets - the Bank was content with what it says is relatively good liquidity today, helped by government spending.

Singapore was on holiday today - they're back tomorrow.

Regional equities:

  • Nikkei +0.12%
  • Shanghai +0.64%
  • HK +0.38%
  • ASX +0.20%

ps. Don't miss this (especially if you are a fan of Monty Python: Video - Theresa May and the Holy Grail)

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Author: Adam Button

Forex news for North American trading on June 23, 2017:

Markets:

  • Gold up $5 to $1256
  • WTI crude up $0.37 to $43.10
  • S&P 500 up 3.8 points to 2438
  • US 10-year yields down 0.5 bps to 2.14%
  • EUR leads, CAD lags

Strong Canadian growth wasn't enough to spark any inflation in May and that means the Bank of Canada probably won't hike rates next month. USD/CAD jumped 80 pips on the soft CPI report and briefly climbed above 1.33 before slipping back to 1.3264.

EUR/USD was also a climbing as the US dollar was generally soft. The euro was near 1.1160 as North America rolled in and it stalled above 1.1180 for a period before a second wind pushed it above 1.1200 and to unchanged on the week after losses Mon/Tues.

USD/JPY was in a tight chop in the 111.20 to 111.30 range. It tried each side a half-dozen times but there was no enthusiasm for a move.

Yesterday there was talk about a BOE hike at the next meeting but it's a tough story to sell. Still, there were some buyers of cable as it climbed 40 pips on the day. The early London high of 1.2744 held, however, and it faded to close at 1.2716.

AUD/USD also failed to break the earlier high of 0.7583 despite a solid attempt. It faded back to 0.7570 in posting a quarter-cent gain on the day.

Have a great weekend.

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Author: Mike Paterson

Forex news for European morning trading on June 23 2017

News:

Data:

It's not exactly been a rip-roaring finish to the week so far but it's  not over just yet.

GBP opened up with a firmer tone on hopes of a softer Brexit and potentially hawkish BOE. GBPUSD rallied from to 1.2680 to 1.2705 before pausing for breath, then a test on 1.2750 as EURGBP fell from 0.8793 to 0.8766. Steady since though with 1.2720 providing some support.

USDJPY and EURUSD both traded tightly in 111.15-35 and 1.1160-88 ranges, the latter being capped by larger option expiry interest between 1.1190-1.1200.

USDCHF has a quick test of 0.9680 support in a rush only to just as quickly back to 0.9705 then 0.9720. EURCHF similarly looked at 1.0830 support before also bouncing back to 1.0860.

AUD found some demand on bullish Chinese oil import data with AUSDUSD rising to 0.7583 from 0.7550 only to fall back to 0.7560 as I type.

USDCAD has mostly traded 1.3220-40 as we wait on Canadian CPI at 12.30 GMT.

Equities  generally opened softer and remained that way while oil had a 30c spike only to retreat back.

The week-end's almost here but hopefully a few pips to be made first.

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