Forex trading headlines from the European morning session 14 April
News:
- ECB’s Noyer says weaker euro is desirable
- German fin min Schaeuble says further euro strength could have negative effect on economy
- Japan’s Suga says govt has absolute faith in Kuroda
- Ukraine’s Turchinov says anti-terrorist operation with army will begin
- German govt says EU foreign ministers to decide whether new sanctions needed for Russia
- WTO sees global goods trade growing by 4.7% in 2014
Data:
- Italian CPI March final m/m vs +0.1% vs +0.1% exp
- February euro zone industrial production 0.2% vs 0.2% exp m/m
- Nikkei closes down -0.36 % at 13,910.16
- Shanghai Composite Index closes up 0.05% at 2131.54
It’s been a cautious start to the week as Draghi’s week-end comments and Ukraine resonate around the markets but with no real follow-through as yet.
Repeated calls for a lower euro had little impact as indeed did the prospect of imminent action by Ukraine’s govt forces in pro-Russian held towns. As the session has progressed we’ve seen a general demand for the greenback with USDCH shaking off a few of it’s safe-haven losses to rally to 0.8797 from 0.8770 only to retreat back to 0.8783 as I type with the 0.8800 offers proving a step too far.
USDJPY has been up to 101.77 as the Nikkei futures pared back the cash market losses and we’ve seen EURUSD drift lower to session lows of 1.3818 from 1.3858 and GBPUSD to 1.6714 from 1.6734 but it’s all been painfully slow.
AUDUSD has looked perky around 0.9400 and NZDUSD has had a decent bounce to 0.8670 from the 0.8642 lows while USDCAD has been stuck in a 1.0965-85 range.
Gold is off its highs at 1323 and equities opened on the back foot but have clawed back a few losses since.
Gently gently we tread into a new week.
