Mar 11


  • BY: Nati
  • March, 11th, 2016 8:22 +00:00

Good morning,

New Zealand had reduced Interest Rates on Wednesday and the ECB followed suit by cutting all effective rates. The reduction in rates was followed by a Mario Draghi press conference The Euro dropped from 1.0970 against the Greenback to 1.0820 before reaching a high of 1.1220 so quite a roller coaster. EURUSD trading at 1.1175 at time of writing. NZDUSD trading at 0.6696 after the Business NZ Purchasing Managers Index and Food Price Index figures for February. Japanese BSI Large Manufacturing figures were down according to figures released during the last Asian session of the week USDJPY trading at 113.48

NZDUSDecnDaily 11.03.16USDJPYecnDaily 11.03.16

Mario Draghi grabbed all the headlines yesterday with announcements that the ECB will increase targeted longer-term refinancing operations (TLTROs). Having said that interest rates will remain low for the foreseeable future, the forward guidance given by Draghi yesterday will see us past his retirement in 2019. EURUSD trading at 1.1156 at time of writing. German CPI figures at the outset of the trading session in Europe were all in line with expectations. Danish Trade Balances and Spanish CPI figures Italian and Hungarian Industrial Outputs will be out this session before British Trade Balance figures are announced. EURGBP trading at 0.7807

EURUSDecnDaily 11.03.16EURGBPecnDaily 11.03.16

Across the Atlantic water today Canadian Unemployment Rate, Participation rate and Net Change in Employment figures for February. USDCAD trading at 1.3260 US Import and Export Price Indices out on Wall street with the Baker Hughes US Oil Rig Count the final data release on the calendar. USOIL trading at $40 per barrel, while GOLD trades at $1270 per ounce at time of writing.

GBPUSDecnDaily 11.03.16USDCADecnDaily 11.03.16

I hope you all have a nice weekend.