Forex and cryptocurrency news from the European morning trading 14 Mar 2018
News:
- ECB's Draghi says that monetary policy adjustments will remain predictable
- ECB's Praet says they can not yet declare "mission accomplished" on inflation
- ECB's Mersch says any change in monetary policy always a shock to the economy
- More from Coeure: Inflation not yet at desired level
- ECB's Constancio says there is no room for complacency on macroprudential readiness
- ECB's Coeure says risks of fintech can not be ignored
- ECB's Angeloni says US protectionism creates risks for global economy
- EU's Malmstrom says that US metal tariffs threatens WTO system
- China says will take firm measures to safeguard its legitimate trade rights
- Google to ban cryptocurrency, ICO ads starting from June
- Thailand expects to introduce law regulating cryptocurrencies later this month
- Trump's tariffs won't benefit the economy - poll
- Riksbank says that Bitcoin and cryptocurrencies cannot be classified as money
- BlackRock's Scott Thiel says biggest short-term market risk is Brexit
- Germany's Ptassek says "a lot of progress being made" on Brexit withdrawal agreement
- Conor Lamb wins special election for Pennsylvania House seat - NBC
- Moscow has no connection with poisoning of former Russian double agent in UK
- Germany's lower house of parliament re-elects Merkel as chancellor
- Aussie buyers are not throwing in the towel just yet
- The BOJ is taking the fun out of the bond market
- The dollar catches a bid on the day
- Wells Fargo says US dollar is set for more pain this year
- Another bright star has left us today...
- Trading ideas for the European session 14 March
- Nikkei 225 closes lower by 0.87% at 21,777.29
- ForexLive Asia FX news: NZD a winner today, data due tomorrow
Data:
- Germany February final CPI m/m +0.5% vs +0.5% prelim
- Eurozone January industrial production m/m -1.0% vs -0.5% expected
- US MBA mortgage applications w.e. 9 March +0.9% vs +0.3% prior
- Italy January retail sales m/m -0.5% vs -0.3% prior
- Spain January retail sales y/y +2.2% vs +1.2% prior
A steady session for the most part but one that's seen USD demand return and the euro in retreat across a number of pairs.
EURUSD had already failed one attempt on 1.2400 with option interest notable too. Then came ECB headlines and another failure with Draghi & Co only really repeating what we already knew. ie QE will continue for a while yet, inflation is soggy and rate hikes are a long way off.
Cue falls to 1.2361 with EURGBP giving up on 0.8880 to return and test 0.8850. EURJPY has already begun a retreat from 132.20 with USDJPY capping again and we've since posted 131.70. USDJPY has found support into 106.30 with large option support at 106.00 vs large sell interest at 107.00 tomorrow.
GBPUSD failed again at 1.4000, this time in Asia, after yesterday's refusal and along with renewed GBPJPY supply we've been down to 1.3940 where a line is growing.
AUDUSD has found support above 0.7850 from stronger Chinese data and option-related support but still finding sell interest at 0.7900.
USDCAD has flat-lined on USD demand vs pivotal resistance around 1.2960 while USDCHF has found support into 0.9420 as EURUSD falls and EURCHF holds 1.1680 again.
Bitcoin has found itself on the back foot again and posted $8700 from $9350 a s Google announces no ads.
Data coming up at 12.30 GMT (remember US clocks are 1 hour fwd atm) includes US retail sales and PPI
