Forex news from the European morning session 7 Mar
News:
- BOJ not looking to take additional policy steps right now says Kuroda
- Chinese economy set to grow by 7% in 2016
- China's foreign reserves shrink again in Feb to $3.202trln vs $3.19trln exp
- Brexit odds widening despite big names wanting to leave
- Brexit claims its first casualty as BCC head resigns
- Preview: What to expect from the ECB this Thursday
- Aussie sellers out in force
- Option expiries 10am NY cut today 7 March
- Chinese equity markets close firmer 7 March
- Nikkei 225 closes down -0.61% at 16,911.32
Data:
- Germany factory orders Jan mm -0.1% vs -0.3% exp
- Italy PPI Jan mm -0.7% vs -0.6% prev
- March 2016 Eurozone Sentix index 5.5 vs 8.0 exp
- Japan leading index CI Jan flash 101.4 vs 101.6 exp
It's been a more sedate affair this morning understandably after the fun 'n' games of post-NFP data on Friday.
USDJPY started to wobble above 114.00 again as the Nikkei closed lower but then European equities got the jitters and we saw yen demand with AUDJPY, EURJPY and GBPJPY all notable losers dragging down core pairs.
Buyers in the dips again though has been equally notable and EURUSD has bounced to 1.0966 from 1.0935, GBPUSD to 1.4172 from 1.4134 and AUDUSD to 0.7423 from 0.7393 while USDJPY has edged back up to 113.60 from 113.40. Year-end yen repatriation can not be ruled out the equation either.
USDCHF has been underpinned as EURUSD falls but EURCHF has another bid above 1.0900 now while USDCAD has been pinned down in a tight range by oil price and cross pair flows.
Not much else of note so far but the ECB shadow looms ever closer.
