Forex news for the European morning trading session 15 Sept 2017
News:
- BOE's Vlieghe says appropriate time for rate hike " might be as early as the coming months"
- More from BOE's Vlieghe: Interest rates will need to rise more than once if economy develops as expected
- Think the markets are volatile today? 25 years ago we witnessed Black Wednesday
- Explosion reported on London Underground train
- London train explosion now being classified as a terror attack
- All aboard the runaway train as GBPJPY demand sends USDJPY to 7-week highs
- ECB's Lautenschlaeger says it's now time to take decision on scaling back QE
- China says it does not hold the key to Korean crisis
- Russia cuts key interest rate by 0.5% to 8.5%
- BOE Quarterly Bulletin says corporate bond purchase scheme has made a positive impact
- Forex option contract expiries for today 15 Sept
- ECB's Nouy says it's in everyone's interest for regulators to have the edge
- Economists see ECB announcing QE tapering intentions at October meeting
- China's Q3 business confidence index rises to 68.7%
- Moscovici sees Greece as an "attractive, normal" Eurozone country
- Nikkei 225 closes up 0.52% at 19,909.50
Data:
- China August M2 money supply yy +8.9% vs 9.1% exp
- Eurozone July trade balance SA EUR18.6bln vs 20.3bln exp
A crazy morning that has had me typing non-stop and the pound rallying non-stop too.
GBP pairs were underpinned but steady until BOE MPC dove Vlieghe toed the current party line and said rate hikes could be seen in the coming months. Cue GBP spike higher and after a small pause for thought coinciding with reports of a London terror attack we've surged higher since.
GBPUSD 15m
GBPUSD range 1.3385-1.3617 EURGBP 0.8800 - 0.8774 with GBBJPY a prime mover to 151.56 from 147.80
GBPJPY 15m
That move higher, as hedge funds turned short positions, triggered stops all over the show forcing USDJPY up through 110.80-111.00 to post 111.34 in a rush with yen weakness generally and reversing the sharp moves lower seen overnight.
EURUSD has had a decent session helped by hawkish ECB comments but is being contained again by large option expiry interest at 1.1900-1.2000
AUDUSD underpinned still above 0.7985 but sellers poised while USDCAD has traded 1.2160-80 with large option expiries at 1.2200 casting a shadow.
Oil is firmer with WTI rising from $49.85 to $50.43 while gold has gone the other way and fallen from $1331 to $1322.
US data to throw in the mix now.