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Forex: Q1 sees mixed results so far in 2014

The final day of the first quarter 2014 sees a little risk appetite returning to the indices although for currencies no real discernible trend has emerged overnight or so far this morning. Whilst indices might be ticking higher in their usual end of quarter window dressing, FX markets seem to have shut up shop for Q1. With little in the way of news flow over the week end this doesn't come as much of a surprise but it shouldn't be long before we see some action. This morning sees Eurozone ...

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Forex: Finding a theme

FX markets are fairly flat in Asia, with most of the week so far having been characterised by a fairly mixed performance against on the majors. The CAD has been the main source of strength so far this week, closely followed by the kiwi NZD. In contrast, we have seen the euro slipping gradually throughout most of the week. Some of this is in anticipation of next week’s policy meeting, with thoughts turning once again to fresh signals of possible policy action from the ECB after the ...

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Forex: A softer Swissie

There is a sense that FX markets are coasting into year end, with one or two exceptions. The Aussie we talked about yesterday, with reference to its ability to defy gravity in the face of the greater nervousness surrounding China. But the Swissie is also worth noting as we move into quarter end. We’ve seen around a 0.7% reversal in EURCHF from the lows seen in the middle of March around the 1.2120 area, now nudging above 1.22. Naturally, some of the uncertainties surrounding the Ukraine and ...

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Forex: Aussie defying gravity

The biggest surprise of the quarter has been the Aussie, as we hinted at in yesterday’s Daily Brief. The currency has risen overnight for the fourth consecutive session, above the 0.92 level for the first time since late November. The latest move higher comes from bullish comments from RBA Governor Stevens, who only a few months ago was doing his best to talk down the currency. The big challenge for Australia has been moving away from its dependency on exporting natural resources to China and ...

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Forex: UK CPI falls in line

UK CPI data in line, falling to 1.7% on headline, as expected. Sterling slightly firmer, with cable above 1.65 level.

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Forex: German Ifo Business Climate Index

German Ifo Business Climate Index in March at 110.7 vs 111.0 forecast.

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Forex: German IFO weaker, EUR steady

German IFO data slightly weaker than expected, falling to 110.7 from 111.3. Impact on EUR minimal, EURUSD steady at 1.3830. High 1.3846 overnight.

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Forex: Coasting

FX markets are coasting into the end of the quarter. By that we mean that the majors are not in the mood to push the trends that have been in place in recent weeks. To that end, cable has been hugging close to the 1.65 level, after the high earlier in the month of 1.6786 and the single currency is around 1% from the high for the year recorded earlier this month. The exception to this has been the Aussie, which has been gaining in confidence since the start of the month, making a new high for ...

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Forex: EUR reversal on German PMI

EURUSD losing initial gains on stronger French PMI data as German release disappoints. EZ release at 09:00 GMT. EURUSD below 1.38, high at 1.3825.