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ForexLive news morning wrap: Euro on the front foot as the USD remains behind — Forex Stock Trade

ForexLive news morning wrap: Euro on the front foot as the USD remains behind

Forex news for the European morning trading session of November 23, 2017 Happy Thanksgiving to our US readersof the News:

  • SPD Schulz called a meeting of leaders of today at 16: 00 GMT
  • The traffic reports that Germany is the leader of the SPD Schulz will resign today
  • Of the EU, jean-claude Juncker: cannot say if sufficient progress has been made in brexit talks
  • The Italian economy can grow above 1.5% in 2017
  • Forex option expiries for today, 23 November
  • Chinese equity markets to take a deaf
  • The exchange of ideas for the European session
  • ForexLive Asia FX news wrap: yen a little mover


  • United KINGDOM-revised Q3 GDP qq 0.4% vs 0.4% expected
  • Germany Q3 GDP final qq SA of 0.8%, as expected
  • UK CBI Nov reported retail sales of 26 vs 3 exp
  • The euro zone Markit Nov mtg PMI flash 60.0 vs 58.2 exp
  • Germany Markit/BME Nov mtg PMI flash 62.5 vs 60.4 exp
  • France Markit Nov mtg PMI flash 57.5 vs 55.9 exp
  • China Oct revised trade balance USD 38.18 bln vs 38.17 bln prelim

An orderly of the session which saw the euro extend gains as hopes of a German coalition deal with the rise and the US dollar remains on the back foot post-FOMC. Euro bulls also hope to get a positive reading of the ECB Minutes due at 12: 30 GMT
USDJPY remained near Asian low 111.07 , failing to get back above 111.30 while the USDCHF has given up on the defence of 0.9800 post 0.9795 of 0.9820. USDCAD has also extended losses first started two days ago on the large option maturities and now been at 1.2673 of 1.2710.
The EURUSD has made steady progress from 1.1825 to test 1.1850 offers/res, but found the levels a hard nut to crack so far. The EURGBP has posted 0.8909 of 0.8900 but falls a little as the GBPUSD rallies to 1.3312 of 1.3283 hollow fell from 1.3330. Better UK CBI retail data helping the recovery. EURUSD underpinned but sellers on the point
EURJPY rose 131.50 to test 131.80 but falling back as I type. AUDUSD found a base around 0.7610 and been up to 0.7639 while the NZDUSD went from 0.6875 to 0.6906 before finding a fresh supply.
The shares opened wobbly after the Chinese equity markets have suffered large losses, but the DAX has opened the way higher as hopes for an agreement in Germany to increase.
Oil stable, while gold had a lift from $1288 $1294 before levelling out shares firmed.

The US markets closed for Thanksgiving, but we have Canadian retail sales on the horizon at 13: 30 GMT and some CB talking heads in the mix.

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