Forex news from the European morning session 26 Nov
News:
- Fitch sees China getting the nod for yuan to be included in IMF's SDR basket
- PBOC and ECB have successfully tested bilateral currency swap agreement
- UK's Osborne says economy "fundamentally stronger" than a few months ago
- France's Sapin says budget rules will not affect priority for security
- RBI said to have intervened to support the rupee
- Moody's say Japan's A1 rating is supported by fundamentals
- Russia not considering sanctions against Turkey
- T he many meanings of "liquidity": More from guest economist John Hearn
- How to Capture Big Moves in Currency Pairs - Part 1
- Goldman Sachs are so good they're even one step ahead of the weather
- Pound suffers in thin trading - GBPJPY driven lower by Morgan Stanley
- Option expiries 10am NY cut today 26 Nov
Data:
- Eurozone M3 money supply Oct yy +5.3% vs +4.9% exp
- Spain Q3 GDP final qq +0.8% as exp
- Switzerland industrial output Q3 -2.8% vs -2.1% prev
- Nikkei 225 closes up +0.49% at 19,944.41
Happy Thanksgiving to all our US followers
In understandably thin trading it's been the pound that's come in for today's kicking after the punishment handed out to the euro yesterday
Month-end flows have been mainly cited as the cause and Morgan Stanley GBPJPY sell-note added some additional fuel
GBPUSD has been down to 1.5066 from 1.5120 as EURGBP begins its regular month-end journey north and has posted 0.7044 from 0.7819 before running into fresh supply ahead of 0.7050 offers.
The pattern has been similar in other pound pairs with GBPJPY down to 184.65, GBPAUD to 2.0822 and GBPCAD down to 2.0051 to name but three
Elsewhere it's been a snooze-fest by and large although the euro had its own little wobble early doors but we've seen EURUSD hold a test of 1.0600 helped by the EURGBP demand. EURJPY had another look below 130.00 but found a few buyers again but euro rallies still have sellers lurking in the shadows as ECB easing dominates the mind-set still
USDJPY and USDCHF have both had a quiet session with cross plays the main/only driver while USDCAD has found sellers above 1.3320 to test 1.3300 again despite softer oil prices
AUDUSD and NZDUSD have both traded tightly also caught up in cross play cross fire
No US markets so we won't be looking for too much before the final mouthful of Turkey gets consumed but thin markets can create additional volatility so we might see a little more action
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
