Forex trading news and economic data headlines 8 Nov 2016
News:
- Japan's Abe tells his MOF to closely watch forex markets around the US election
- Where will the dollar be this time tomorrow?
- Iran is optimistic about OPEC freeze deal
- PBOC will maintain prudent monetary policy
- Japan's Abe expects the BOJ to continue taking appropriate action
- Option expiries for the 10 am NY cut today 8 Nov
- More FX option expiries of note this week 7-11 Nov
- Nikkei 225 closes down -0.03% at 17,171.38
Data:
- Germany industrial production Sept mm SA -1.8% vs -0.5% exp
- September 2016 UK industrial production -0.4% vs 0.0% exp m/m
- France trade balance Sept EUR -4.769bln vs -4.2bln exp
- Spain housing transactions Sept yy +13.2% vs +20.3% prev
- Switzerland unemployment rate Oct SA 3.3% as exp
It's been a steady session for the most part as traders/algos keep their powder dry ahead of the main event later.
USDJPY had spent the Asian session in a 104.30-60 range and we stayed there mostly with other pairs failing to do too much.
GBPUSD did have an early bout of buying from 1.2390 as shorts trimmed back but we failed at 1.2439 and have since gone back to where we started as USD buyers return on the NA early moves.
EURGBP had fallen to 0.8890 before bouncing back to 0.8915 as cable fell while EURUSD had an early look at 1.1070 res/offers before also giving up and dipping into 1.1040.
AUDUSD has tried to cling onto gains above 0.7700 while USDCAD has mostly been on the back foot despite oil falling.
USDCHF and EURCHF have once again been treading water with EURCHF having held 1.0750 in late NY trading yesterday.
But all this is irrelevant compared to what might happen later.
Strap yourselves folks!
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