European Morning Wrap

Pound a little higher on the day as buyers keep up defense of key daily moving averages The pound is up in European morning trade here That still remains the key technical level to watch for now, with the pound also hoping to take comfort from UK finance minister, Rishi Sunak's announcement on a wage support scheme - to help alleviate some pressure from the jobs market.... Read full article UK's Sunak says to hold press conference later in the day UK finance minister, Rishi Sunak, to speak later today He will also be speaking in parliament later in the day as he will deliver a statement on the economy, which should encompass his plans on the new wage support scheme:... Read full article UK September CBI retailing reported sales 11 vs -10 expected Latest data released by CBI - 24 September 2020 This is a bit unexpected, as UK retail sales growth came in at its fastest pace since April 2019 as the recovery in consumption activity continues into September. The readings here are an indicator of short-term trends in the retail and wholesale sector of the UK economy.... Read full article ECB hands €174.5 billion to banks in latest TLTRO-III allotment ECB says that banks borrowed €174.5 billion in 3-year TLTRO-III operations Coincidentally, the euro is slightly softer at the same time the data is released but I don't see this as being much of a material factor. Excess liquidity is still plentiful in the euro area after the measures over the last few months.... Read full article Heads up: ECB to publish latest TLTRO-III allotment at 0930 GMT The impact should be minimal as we already know that the ECB has made liquidity plentiful over the last few months The range of estimates is somewhere between €10 billion to €200 billion, but in any case will fall well short of the €1.3 trillion allotted at the June tender. ING says that:... Read full article Read The Full Feed Latest Forex Orders FX option expiries for Thursday September 24 at the 10am NY cut EUR/USD  1.1600 975m euro amount    1.1610 625m  1.1625 523m  1.1700 844m  1.1750 1.1bn  1.1800 2.7bn  USD/JPY  104.00 1.3bn USD  104.50 471m  104.55 438m  104.90 830m  105.00 1.8bn  105.10 844m  105.25 570m  105.70 470m  105.75 900m  106.10 555m  106.18 444m  106.25 548m  106.75 1.6bn  106.87 750m  GBP/USD  1.2705 271m GBP  AUD/USD  0.7100 1.0bn AUD  0.7110 703m NZD/USD  0.6600 270m NZD For bank trade ideas, check out eFX Plus  All Forex Orders Cryptocurrency Technical Analysis Education Economic Calendar Forex Brokers Are you subscribed to our events? Join now and get informed Subscribe Connect with us on your favorite social network

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