Forex news from the European morning session 17 March
Happy St Patrick's Day to all our Irish readers
News:
- SNB leaves interest rates on hold 17 March
- SNB's Jordan doesn't rule out any further measures
- Norway lowers key interest rate by 0.25%
- Japan's Abe says the world's markets are changing greatly
- BOJ's Kuroda says Japan has not erased the deflationary mindset completely
- Japan should extend tax free stock investment vehicle
- Preview: Carney & Co not going to be talking hawkish anytime soon
- FOMC fall-out taking no prisoners in European session 17 March
- How false is this GBPUSD rally?
- Option expiries 10am NY cut today 17 March
- Nikkei 225 closes down -0.22% at 16,936.38
Data:
- February 2016 Eurozone HICP final -0.2% vs -0.2% exp y/y
- Eurozone trade balance Jan SA +€21.2 bln vs +€19.5bln exp
- Italy total trade balance Jan +€35m vs +6.02bln prev
- Switzerland Feb producer and import prices mm -0.6% vs +0.1% exp
A busy session that's seen the USD dumped on its backside post-Yellen and risk-off sentiment scything through equity markets.
It didn't take long for Europe to start the USD kicking and we've seen strong rallies in EURUSD to 1.1343 from 1.1230, GBPUSD to 1.4382 from 1.4230 with USDJPY down to 1.1077 from 112.25. Yen pairs all lower on the risk-off and year-end yen demand.
Commodity ccys have all fared well as oil surges higher dragging USDCAD below 1.3000 and AUDUSD up to test 0.7650.
European equities started in positive territory but were soon posting losses with the DAX falling heavily adding to the euro demand.
SNB left rates on hold and offered little new while Norges Bank cut rates by 0.25% as expected. Now it's the turn of the BOE and we stand poised for their decision and Minutes at the top of the hour.
Busy times are here to stay.
