Forex and cryptocurrency news from the European morning trading 8 Mar 2018
Happy International Women's Day to all our readers
News:
- ECB's new forecasts are said to be largely unchanged to December's view - report
- Another preview of the ECB meeting later: "Draghi likely to err on the side of caution"
- ING Economics view that EUR/USD will head to 1.26 post-ECB meeting
- SocGen says ECB may 'confirm gradual shift in policy outlook'
- Bitcoin has another look above USD10,000
- Japan's Aso says they don't want to shut down all cryptocurrency exchanges
- Coincheck says it plans to reimburse stolen NEM coins next week
- EU's Katainen says that 'anxiously awaiting' trade decision from US
- German economy minister Zypries says "we will have to respond to US tariffs"
- EU's Moscovici says that all trade wars are bad
- China's trade surplus with the US remains elevated
- Jamie Dimon says that Gary Cohn's resignation is 'terrible'
- UK's Fox says the idea of punishing UK for leaving EU is language of a gang
- French junior minister says that 'main concern for France is a trade war'
- China's Yang says there's no need to worry about growth slowdown
- USD demand still prevailing as we wait on ECB
- Moody's says that China is making significant progress in deleveraging
- More responses to Japan's Q4 GDP data earlier in the day
- Deutsche Bank Securities' chief economist says five Fed hikes is possible in 2018
- FX option expiries for the 15.00 GMT cut - 8 March 2018
- BOE bank rate seen at 0.75% at year-end 2018 - Reuters poll
- Dollar strength across the board in a quiet European morning so far
- USD/CAD pares losses on the day, retests session high
- Danske Bank says EUR/GBP faces upside risks in the very near-term
- Trading ideas for the European session 8 March
- Nikkei 225 closes higher by 0.54% at 21,368.07
- ForexLive Asia FX news: Tariffs yes, no, maybe, I don't know ... can you repeat the question?
Data:
- Germany January factory orders m/m -3.9% vs -1.8% expected
- Bank of France February industry sentiment indicator 105 vs 104 expected
- Switzerland February unemployment rate 3.2% vs 3.2% expected
- Japan February economy watchers survey current 48.6 vs 50.5 expected
Not the liveliest of sessions but we've seen some USD demand return overall and Bitcoin rally back above $10000.
USDJPY held above 105.80 in an early move and has nudged its way back up to 106.15 but tempered by yen pairs still falling with GBPJPY and CHFJPY leading the way again.
USDCHF has taken full advantage, perhaps with ongoing SNB help, and posted 0.9470 from 0.9430 with EURCHF underpinned at 1.1680 and posting 1.1720.
GBPUSD has fallen from 1.3900 to test 1.3851 support/demand while EURUSD has also fallen to post 1.2369 session lows after failing to hold above 1.2400.
USDCAD staged an early rally of its own from 1.2880 and after pausing at 1.2925 has gone on to post 1.2950 while AUDUSD has drifted down 0.7793 with options in play.
Bitcoin had an early Asia attempt to get back above$10k only to fall back to $9500 but finally popped over before giving up once again.
It's the ECB in focus though with the statement at 12.45 GMT then presser at 13.30 GMT with some CAD housing data out then too.
