Forex news from the European morning session 25 March 2015

News:

  • ECB's Liikanen says QE will last until inflation moves sustainably to 2%
  • Liikanen says ECB's commitment to QE is of key importance
  • Fed's Evans would rather see inflation go to 2.5% than worry about credibility loss, like the BOJ suffered
  • Fed's Evans says stronger dollar presents clear disinflationary pressure
  • IFO's Sinn says a Greek exit will lead to other countries leaving the euro
  • IFO's Wohlrabe says German Q1 GDP likely to be just under Q4 +0.7% growth
  • UK election 2015: SNP's Salmond says they would block a Conservative govt if holding balance of power
  • ECB's Praet says QE is an opportunity for Italy
  • Do you want to know where currencies are going over the next 2 years?
  • Dr. Greg hosts another webinar today at FXStreet at 10 AM ET
  • Option expiries 10am NY cut 25 March

Data:

  • German IFO business climate March 107.9 vs 107.3 exp
  • UK BBA mortgage loan approvals Feb 37,305 vs 36,650 exp
  • US MBA mortgage market index 437.1 vs 399.3 prior
  • French business confidence March 96 vs 95 exp
  • Swiss UBS consumption indicator Feb +1.19 vs +1.24 prev
  • Nikkei 225 closes up +0.17% at 19,746.20

A scrappy session-but one one without its moments- as the general USD malaise returned with the euro making the most of it, albeit not sustaining all the gains

EURUSD had an early wobble down toward 1.0900 ( large expiry there again today) from 1.0925 only to return briskly and then making an even faster move to 1.0965 then 1.0980 enhanced by better German IFO. A profit-taking dip then ensued before posting new highs at 1.0995 as I type

EURGBP had a steady move from 0.7350 to 0.7377 before also running out of puff back into 0.7350 but then a little later we saw a quick trip to 0.7385 and back from 0.7365 which also saw GBPUSD finally break up through 1.4900 and post 1.4932 highs.

EURJPY also enjoyed a steady climb to 131.41 with USDJPY staying around 119.60 before both pairs gave up and dipped lower, the latter now taking out fresh bids at 119.50

USDCAD had a dip lower to 1.2478 on the USD softer tones but has since rallied to post fresh highs of 1.2524 as I type despite firmer oil prices

AUDUSD has been underpinned but caught up in some cross plays providing a tight-ish range while NZDUSD has made the most of the USD-bearish mood and AUDNZD selling to post 0.7680 from 0.7610

US durable good orders at 12.30 GMT to add further fuel to the fire


More to follow