Forex news from the European morning session 16 March 2015
News:
- How much will the ECB's first QE shopping bill be today?
- Greece will pay IMF debt instalment later today
- UK Budget Preview - Our guest economist highlights a key area that George would rather we overlooked
- DAX posts new record highs
- WTI opens the week under long term support but holds the Jan lows
- Option expiries 10am NY cut today 16 March
Data:
- Switzerland producer&import prices Feb mm -1.4% vs -1.0% exp
- Nikkei 225 closes down -0.04% at 19,246.06
It's been a steady start to what should be a lively week but there's been some decent two-way business to be had nonetheless
Asia had seen a small USD sell-off and we opened up in the same vein until the euro took a wobble early on with EURUSD falling to 1.0505 from 1.0530 in a rush, dragging EURGBP down to 0.7112 from 0.7130 and EURJPY to 127.40 but then just as quickly found a bid and up we went again. EURUSD had a look at th3 1.0550 offers but then retreated to trade around 1.0530
GBPUSD had an early look above 1.4785 then again at 1.4799 but has yet found enough stamina to clear the 1.4800 offers and is largely being pulled around by EURGBP again
USDJPY had an early dip below 121.20 as the Nikkei ended softer after 15 year highs but has since found some cross play support again while USDCHF has also traded tightly again between 1.0035-65
USDCAD had a wander lower to look at bids into 1.2750 as oil prices firmed but has mostly traded around 1.2775 since while AUDUSD and NZDUSD both gave up on early gains before finding a bit of demand in the dips
Not a session to inspire but pips to be had for those keen enough to nick a few
