Forex headlines for the European morning session 24 Nov 2016
Happy Thanksgiving to all those celebrating it around the globe
News:
- Get the kippers on: OPEC, Russia and other non-OPEC are meeting for breakfast - Livesquawk
- OPEC to ask non-OPEC to cut production by 880kbpd from Jan
- Nigerian oil minister sees price above USD 50 on OPEC deal, down to USD 45 without one
- UK"s Hammond says economy has many uncertainties, not just Brexit
- ECB"s Constancio: We see no need to change baseline economic scenario
- ECB wants a sustained path toward objectives
- ECB"s Villeroy: Will go on implementing monetary policy exactly as we committed to
- Moody"s says Japanese corporates face the prospects of a restrained recovery in 2017
- SNB"s Jordan: Swiss franc is still significantly overvalued against the euro
- Italian wages jump a huge 0.1% in October
- GBPUSD has a look at 1.2500
- USDJPY punches through 113.00 resistance as USD buying continues
- It"s a positive if bond yields go up on higher growth prospects says Constancio
Data:
- Germany Q3 GDP qq final SA +0.2% as exp
- December 2016 German GFK consumer sentiment 9.8 vs 9.7 exp
- October 2016 UK BBA mortgage approvals 40,851 vs 38,975 exp
- Japan (Sep. final) Leading index 100.3 and Coincident 112.7
These fragile markets continue as the US prepares the turkey dinners.
Busy times again that"s seen USDJPY continue its march higher to 113.53 before retreating as per recent patterns and another rally in the pound before sellers re-emerging to take GBPUSD back to 1.2450 from 1.2495 and EURGBP to 0.8483 from 0.8460 after 0.8504 highs.
EURUSD posted fresh lows of 1.0518 as early USD demand prevailed but was soon back above 1.0550 with AUDUSD also taking advantage of the USD turnaround to post 0.7419 but still doing its own thing by and large.
USDCAD also fell on the USD sales to 1.3480 from 1.3530 helped by oil staying underpinned and USDCHF stalled into 1.0200 and backed off to 1.0146 before finding fresh demand.
So, some good opportunities again. Not always easy to pick but they"re out there to be had.
ForexLive European morning FX news wrap: Another mixed bag as US Thanksgiving hols begin
ForexLive European morning FX news wrap: Another mixed bag as US Thanksgiving hols begin
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