It was a very dreary market FX market here in Asia to open the week with Japan, China, Hong Kong and Singapore all on holidays. China will be out all of this week. Hong Kong will be out Tuesday. In addition to the holidays the US football final for the year was played, further distracting any traders that did get into work. The Kansas City Chiefs won the Super Bowl for the second year in a row.

The FX moves we had were minor. EUR and GBP gained points early in the day but have both since retraced.

There was no data on the agenda. There was no news of impact.

Over the weekend the European Central Bank’s Panetta and de Cos both spoke, with both keeping rate cut hopes on the simmer (see bullets above for more).

eur forex fx news summary 12 February 2024 2