NEWS / Foreign Exchange

European Forex Recap

In earlier news

• Dow Jones Industrial Average closed on Monday higher by 27.95 at 12,382-30
• Australia??™s trade deficit in February was A$838 million from A$832 million in January (revised from A$876 million)
• Opening levels:-GBP/USD 1.9781/86 EUR/USD 1.3365/68 USD/JPY 117.85/88 USD/CHF 1.2148/52 USD/CAD 1.158/63 AUD/USD 0.8152/56 NZD/USD 0.7212/16 (11.25pm EST)
• Japanese Asset Manager just sold EUR/USD 200 million plus at the 1.3365 level which the market easily soaked up (1.00am EST)
• Japans Nikkei 225 closed Tuesdays session +215.64 at 17,244-05
• Sterling and Euro yen trading higher in early European trading at 234.30 and 158.20 (3.00am EST)
• Aussie falling from 0.8155 to 0.8130 as traders square or cut their long positions ahead of tonight??™s RBA interest rate decision. Mixed feelings in the market as to whether the RBA will hike Australian interest rates (4.00am EST)
• Euro-land industrial producer prices for February were +0.3% m/m+2.9% y/y from +0.2% m/m +3.1% in January (revised from +0.1% & +2.9% y/y) (5.00am EST)
• Closing levels:-GBP/USD 1.9753/58 EUR/USD 1.3358/61 USD/JPY 118.62/65 USD/CHF 1.2174/78 USD/CAD 1.1560/65 AUD/USD 0.8133/37 NZD/USD 0.7199/03 (7.00am EST)

Economic data due out later today

10.00am US Pending Home sales for February

7.30pm Reserve Bank of Australia??™s decision on Australian interest rates