ForexLive European FX news wrap: Euro eases lower as traders eye April for ECB rate cut – ForexLive

Subscribe to our Daily Wrap
Premium
Join Forexlive News Updates
Join Forexlive FX & Crypto Chat
Follow us on Twitter
Follow Us on Facebook
Headlines:
Markets:
It was a quiet session in terms of headlines in Europe as we get things going on Fed week.
Oil and gold were early movers amid Middle East tensions over the weekend. However, the former has erased its opening gap higher and even trading lower on the day now. WTI crude is just under $78 after failing to get above its 100-day moving average of $79.39.
In FX, the dollar was more sluggish as lower bond yields are seen weighing. USD/JPY is down 0.2% to 147.85 and USD/CHF down 0.3% to 0.8620 on the day. The commodity currencies are also benefiting with USD/CAD down 0.2% to 1.3425 and AUD/USD up 0.5% to 0.6605 currently.
The euro was the laggard though amid some remarks by ECB policymakers talking about rate cuts "sooner rather than later". That being said, they were more so alluding to a move in June rather than in April.
However, the case of he says, she says continues as markets are not buying in and chose to fully price in a 25 bps rate cut for April instead. That helped to see EUR/USD push lower from 1.0840 to 1.0815 during the session.
In the equities space, the mood is more tentative as we gear towards the Fed later in the week. Month-end flows are also a consideration, so there’s that to be mindful of in the days ahead.
Tags
Most Popular
Select additional content:
Stock Daily Updates
Top Forex Brokers
Must Read
Follow Us
Read our Terms, Cookies and Privacy Notice
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions.
Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and links to selected news, blogs and other sources of economic and market information for informational purposes and as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect’s individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically hereby acknowledges clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided on an "as-is" basis as a general market commentary and does not constitute investment or trading advice, and we do not purport to present the entire relevant or available public information with respect to a specific market or security. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information, or with respect to any of the content presented within its website, nor its editorial choices.
Disclaimer: FOREXLIVE™ may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Finance Magnates CY Limited

source