Forex news from the European morning session 11 March 2015
News:
- Greek talks with creditors today begins at 13.00 GMT
- EU keeping tight lipped on Greek talks today
- Draghi says slowdown in growth has been reversed
- ECB's Draghi says asset purchases are nothing new
- ECB's Nowotny says negative yields carry inherent risk of future losses
- ECB's Praet says there is no such thing as a risk-free asset
- ECB's Praet says monetary dominance is what the ECB believes in
- All that glitters is not gold Guest Trader
- Option expiries 10am NY cut 11 March
Data:
- January 2015 UK industrial production -0.1% vs 0.2% exp m/m
- German labour costs Q4 final wda 2.0% as exp
- French Q4 non-farm payrolls final 0.0% as exp/prev
- Portugal CPI Feb mm -0.1% as exp
- China combined industrial output Jan/Feb yy +6.8% vs +7.8% exp
- Nikkei 225 closes up +0.31% at 18,723.52
It's been another busy session that's seen the euro once again under the cosh albeit with a few buyers coming in as I type
EURUSD had failed to get back above 1.0700 in early trading and that was a good enough cue, along with some Draghi comments, that saw a steady decline to 1.0560 only for it now to pop back above 1.0600 as traders decide a bit of profit-taking is due following some less than dovish Nowotny comments on yields
EURGBP and EURJPY similarly saw a steady drop from 0.7075 to 0.7014 and 129.80 to 128.35 before rallying to 0.7045 and 128.85 so far
USDJPY found itself caught the in the crossfire again and was dragged down to 121.20 from 121.45 only to bounce back from whence it came, while USDCHF marched higher again to 100.90 from 99.90 only to fall back to 100.50 with EURCHF trading down from around 1.0690 to 1.0940 before finding support from the euro buyers
USDCAD dropped to 1.2670 from 1.2700 before trying the top side again only to give up the gains back to 1.2680, while AUDUSD and NZDUSD found support at 0.7600 and 0.7230 before rallying to 0.7630 and 0.7655 currently
A lively enough hump day with good opportunity both sides of the price.
