14 Apr 2014
Asia Recap: EUR heavy on ECB verbal intervention
FXStreet (Bali) - The Euro was the main laggard in Asia, after the ECB stepped up its EUR verbal campaign over the weekend, with the rest of G10 currencies in consolidation mode ahead of Europe.
EUR/USD traded heavy from the get-go, with a 25 pips gap down observed following comments from ECB President Mario Draghi, who said "the strengthening of the exchange rate would require further monetary policy accommodation." The pair found a session low of 1.3840 before stabilizing at 1.3850.
AUD/USD was kept in a very small range ahead of Tuesday's RBA monetary policy minutes, an outcome that will possibly reveal further insights into the central bank's stance on the more expensive AUD, with their view on the rising housing prices also to be monitored closely.
USD/JPY continued bottled up in an area of major traffic between 101.50 and 101.70, with price action failing to providing any clues on the next direction. The Nikkei 225 traded flat for the day, thus limiting flows in Yen crosses.
The rest of currencies were confined in tight ranges ahead of European trading, in which headlines out of Ukraine, where the government has decided to launch a 'full-scale anti-terrorist operation' against pro-Russian militants by 6GMT Monday unless they lay down their arms after new incidents were reported in the Eastern Ukrainian region near Slaviansk.
Main headlines in Asia
ECB steps up rhetoric against Euro strength
SNB keeps hard line stance on CHF levels
Ukraine set to take military action against rebels
Growing number of well equipped Russian troops near Ukraine border
Government won't roll out major stimulus - China's Vice FinMin
MAS maintains policy stance, Singapore Q1 GDP eases - ANZ
N.Z PM Key: House prices unlikely to fall, should flatten out
EUR/USD traded heavy from the get-go, with a 25 pips gap down observed following comments from ECB President Mario Draghi, who said "the strengthening of the exchange rate would require further monetary policy accommodation." The pair found a session low of 1.3840 before stabilizing at 1.3850.
AUD/USD was kept in a very small range ahead of Tuesday's RBA monetary policy minutes, an outcome that will possibly reveal further insights into the central bank's stance on the more expensive AUD, with their view on the rising housing prices also to be monitored closely.
USD/JPY continued bottled up in an area of major traffic between 101.50 and 101.70, with price action failing to providing any clues on the next direction. The Nikkei 225 traded flat for the day, thus limiting flows in Yen crosses.
The rest of currencies were confined in tight ranges ahead of European trading, in which headlines out of Ukraine, where the government has decided to launch a 'full-scale anti-terrorist operation' against pro-Russian militants by 6GMT Monday unless they lay down their arms after new incidents were reported in the Eastern Ukrainian region near Slaviansk.
Main headlines in Asia
ECB steps up rhetoric against Euro strength
SNB keeps hard line stance on CHF levels
Ukraine set to take military action against rebels
Growing number of well equipped Russian troops near Ukraine border
Government won't roll out major stimulus - China's Vice FinMin
MAS maintains policy stance, Singapore Q1 GDP eases - ANZ
N.Z PM Key: House prices unlikely to fall, should flatten out