Forex news and economic headlines 29 March 2016



It's been a steady start to the shortened week as markets wait on Janet Yellen's speech scheduled for 16.20 GMT. Many traders will be on holidays still but the algo boxes haven't packed up and jetted off to sunnier climes.

USDJPY got a leg up to 113.74 in late Asia as the Nikkei pared some losses with talk of further easing measures. The pairs ran into good offers at 113.80 and has edged back lower but still finding demand around 113.50. Yen pairs too are generally firmer.

GBPUSD had an early look at 1.4200 as traders sold into yesterday's thin-liquidity rally but good demand down there saw a bounce back to 1.4275. Then a BOE FPC comment that Brexit would cause further GBP weakness saw it slip back to 1.4246 only to run into fresh buyers with EURGBP selling noted too. That pair has been down 0.7837 from 0.7873 before bouncing then falling once more but finding support as GBPUSD runs into offers ahead of 1.4300.

EURUSD has had a steady session after an early wobble to 1.1170 only to recover its poise and post session highs of 1.1212 as I type.

USDCHF and EURCHF have both found dip-demand into 0.9730 and 1.0885 respectively with the latter staging a good recovery to 1.0921 while USDCAD had an early move higher to 1.3215 on softer oil but has come under some general USD pressure to fall back through 1.3180 to post 1.3167.

AUDUSD and NZDUSD both had early wobbles but have also found a bit of support from the USD selling.

Little of data wise today with focus firmly on Yellen.