Session Wraps - Major Forex Headlines wrapped up by trading session

Author: Mike Paterson
3

Forex news for European morning trading on July 26 2017

News:

Data:

A busy enough session that's seen the pound dip and recover but swiss franc weaken notably with SNB smoothing yet again in the frame.

GBPUSD had a quick pre-Q2 GDP dip to test 1.3000 and but then rallied to 1.3044 from 1.3024 post-data in a move that also saw EURGBP break down through 0.8920 to post 0.8913. The pair bounced back to .0.8934 but has seen been in retreat helping to underpin cable.

That euro supply though was definitely not evident in EURCHF which after recent support around 1.1080 spiked sharply higher from 1.1115 to 1.1152 and then 1.1176. USDCHF launched higher from 0.9550 to 0.9588 after finding a good base at 0.9520.

                                                       EURCHF 15m

That's not the whole story though and we've seen AUSUSD hold 0.7880 after Asian falls from 0.7960 after softer CPI and dovish RBA governor Lowe. Option expiries between 0.7900-10 helping to support, contain and now rally to 0.7922

USDJPY has drifted lower to 111.74 after failing to get back over 112.00 while EURUSD has been mostly trading 1.1620-50. USDCAD has been tightly bound between 1.2500-20.

Equities took little time  from the opening to post some decent gains while oil has had an early dip but held steady since.

FOMC at 18.00 GMT the main event to come.                   

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Author: Eamonn Sheridan

Forex news for Asia trading Wednesday 26 July 2017

AUD a mover today with second quarter inflation data the focus. It came in lower than expected for the headline but in-line with expectations for the core measures. AUD/USD dropped 30-odd points on the data release, then bounced back 50% or so (which sounds more impressive than 15 points). The next major input for it was a speech (and following Q&A) from RBA Governor Lowe, which was mainly on labour market issues. Lowe touched on policy directly ... eg. No need to move in lockstep with central banks that are hiking ... but there was nothing from him surprising. As I update AUD/USD is drifting back towards its lows and the Q&A session is continuing.


Elsewhere it was a light session for news and data, we had a BOJ speaker (little impact).

USD/JPY moved above 112 into the Tokyo fix but sagged a few points after and maintained a very small range indeed. US political news failed to move it much as the 'will anything ever get done?' saga continues to drag on and on.

CAD, CHF, EUR, GBP are all little changed against the USD on the session. NZD is a few tics higher, not much in it at all.

Regional equities:

  • Nikkei +0.43%
  • Shanghai -0.37%
  • HK +0.03%
  • ASX +0.96%

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Author: Adam Button
4

Forex news for US trading on July 25, 2017:

Markets:

  • AUD leads, CHF lags
  • WTI crude up $2.21 to $48.55
  • US 10-year yields up 8 bps to 2.33%
  • Gold down $6 to $1249
  • S&P 500 gains 7 points to record 2477

The US dollar struggled and then recovered in North American trade. The initial move sent the euro up to 1.1712, which was just a couple pips short of the August 2015 high. That level held, consumer confidence was strong and Republicans passed the vote to start debate on healthcare. That sent the pair down to 1.1646 to finish close to unchanged in a volatile day.

Cable followed a similar path as it climbed to 1.3087 from 1.3020 only to finish back where it started. Bids at 1.3000 are holding on the downside so far.

USD/CAD was pulled in a few directions by oil, NAFTA worries and the general US dollar trade. It fell below 1.25 for the second day but couldn't break below Monday's low and then jumped up to 1.2530 before finishing back close to the big figure on late sales due to the API oil report.

Yen selling was a broader theme, in large part to rising global yields. The record in stocks and upbeat comments from Caterpillar helped the trade. USD/JPY came close to 112.00 from 111.50 and had a steady bid from 111.00 starting in Asia.

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Author: Mike Paterson
3

Forex news for European morning trading on July 25 2017

News:

Data:

A session for the intra-day jobber as the FOMC tomorrow casts a shadow and contains price action as we wait on NA desks to make their move.

USDJPY had an early dip to look at 110.80 support but has been the star of the show since as general yen selling has helped underpin core pairs and taking this pair back to test 111.50.


GBPUSD was pulled around by EURGBP early in the session around 1.3025-35 but then CBI data sent the pair down to test 1.3000 and EURGBP up to 0.8959. It all came to a grinding halt though and with the help of GBPJPY demand up to 145.50 we testing 1.3050 and 0.8935 again as I type.

EURUSD threatened to head higher but stalled at 1.1670 but found option related support below 1.1650 while USDCHF rallied to 0.9484 before retreating.

Strong performances by equities have added to the risk-on sentiment and therefore yen selling while oil has also had a decent session with Brent up to $49.56 from $48.80. Gold has naturally fallen from $1257 to $1250 as safe-haven demand reduces but that's not stopped AUDUSD rallying to 0.7958. USDCAD has fallen to 1.2487 on the firmer oil price.

Data wise we have US S&P and consumer confidence while BOE's Haldane speaks at 17.00 GMT.

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