ForexLive European FX news wrap: Euro softer as ECB talking heads fail to inspire

Author: Mike Paterson | Category: News

Forex and cryptocurrency news from the European morning trading 14 Mar 2018


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
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