Forex news from the European morning session 23 March 2015
News:
- ECB's Visco says QE will be reduced once price stability is achieved
- Noyer says ECB could increase or decrease bond buying if needed
- ECB is not trying to push the euro in any direction says Noyer
- IFW says German economy is set for the boom times on ECB QE
- Germany says Greek reform list will be given to Eurogroup, not individual countries
- US Fed's Bullard says a bigger rate hike may be needed if they wait too long
- US Fed's Mester calls for additional forward guidance
- Mester says June is a viable option for the Fed to make an interest rate move
- The outlook for the US economy is positive says Mester
- SNB's Moser says they will be active in FX markets if necessary
- Japan's Amari says private consumption is likely to improve
- UK CBI warns of a "power vacuum" after the May election
- Magnitude 6.0 earthquake reported off east coast of Taiwan
- Option expiries 10am NY cut 23 March
Data:
- March 2015 UK CBI industrial trends orders 0 vs 9 exp
- SNB sight deposits w/e 20 March CHF 376.50bln vs 378.8bln prev
- Japan supermarket sales Feb yy -0.8% vs -1.7%
- Nikkei 225 closes up +0.99% at 19,754.36
It's been a lively session taking a lead from Asia but with good two-way business to be had, although the euro is making solid gains on the USD softer tones
EURUSD had seen a decent fall from Asian 1.0883 highs and we continued down to 1.0767 with the euro generally on the back foot but then came some solid buying as the DXY started to wobble back down through 98.00
EURUSD has steadily made its way back to 1.0905 and with it EURGBP has finally broken up through 0.7300 to post 0.7319 so far. EURJPY has posted 130.61 from lows of 129.30 while USDJPY has failed to hold its earlier gains above 120 again and now looking at support into 119.70 again
USDCHF has shadowed EURUSD down to 0.9703 with EURCHF finding offers at 1.0600, while USDCAD has similarly journeyed lower to 1.2534 from 1.2615 helped by firmer oil prices
AUDUSD has enjoyed a steady climb back to 0.7815 from 0.7770 after finding itself under the cosh from 0.7834 highs on AUDNZD selling in Asia. NZDUSD nonetheless still dipped in early Europe but the softer USD sentiment has seen it rally back to 0.7625 from 0.7575
A busy start to the week that augers well for some decent opportunities to come still
