Forex news from the European morning session 25 March 2015
News:
- ECB's Liikanen says QE will last until inflation moves sustainably to 2%
- Liikanen says ECB's commitment to QE is of key importance
- Fed's Evans would rather see inflation go to 2.5% than worry about credibility loss, like the BOJ suffered
- Fed's Evans says stronger dollar presents clear disinflationary pressure
- IFO's Sinn says a Greek exit will lead to other countries leaving the euro
- IFO's Wohlrabe says German Q1 GDP likely to be just under Q4 +0.7% growth
- UK election 2015: SNP's Salmond says they would block a Conservative govt if holding balance of power
- ECB's Praet says QE is an opportunity for Italy
- Do you want to know where currencies are going over the next 2 years?
- Dr. Greg hosts another webinar today at FXStreet at 10 AM ET
- Option expiries 10am NY cut 25 March
Data:
- German IFO business climate March 107.9 vs 107.3 exp
- UK BBA mortgage loan approvals Feb 37,305 vs 36,650 exp
- US MBA mortgage market index 437.1 vs 399.3 prior
- French business confidence March 96 vs 95 exp
- Swiss UBS consumption indicator Feb +1.19 vs +1.24 prev
- Nikkei 225 closes up +0.17% at 19,746.20
A scrappy session-but one one without its moments- as the general USD malaise returned with the euro making the most of it, albeit not sustaining all the gains
EURUSD had an early wobble down toward 1.0900 ( large expiry there again today) from 1.0925 only to return briskly and then making an even faster move to 1.0965 then 1.0980 enhanced by better German IFO. A profit-taking dip then ensued before posting new highs at 1.0995 as I type
EURGBP had a steady move from 0.7350 to 0.7377 before also running out of puff back into 0.7350 but then a little later we saw a quick trip to 0.7385 and back from 0.7365 which also saw GBPUSD finally break up through 1.4900 and post 1.4932 highs.
EURJPY also enjoyed a steady climb to 131.41 with USDJPY staying around 119.60 before both pairs gave up and dipped lower, the latter now taking out fresh bids at 119.50
USDCAD had a dip lower to 1.2478 on the USD softer tones but has since rallied to post fresh highs of 1.2524 as I type despite firmer oil prices
AUDUSD has been underpinned but caught up in some cross plays providing a tight-ish range while NZDUSD has made the most of the USD-bearish mood and AUDNZD selling to post 0.7680 from 0.7610
US durable good orders at 12.30 GMT to add further fuel to the fire
More to follow
