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21.04.2015 06:18

Foreign exchange market. Asian session: The euro fell

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

04:30 Australia RBA Meeting's Minutes


The euro fell at $1.0738, toward the lower end of a $1.0712 to $1.0825 range seen yesterday, weighed down by German bund yields touching fresh lows and Greek woes dominating the headlines. Ahead of key data in the form of German ZEW due for release later in the European session (0900 GMT).

The aussie fell at $0.7725, toward the low end of the $0.7707 to $0.7843 seen yesterday, as aussie strength attributed to China's rate stimulus was more than negated on news that China's Property developer, Kasia Group, had defaulted on its overseas debt. Broad-based

US dollar strength was also seen following upbeat US corporate earnings results and RBA Stevens' speech where he mentioned rates could be cut again if needed and the aussie was very likely to fall further over time.


EUR / USD: during the Asian session the pair fell to $ 1.0720

GBP / USD: during the Asian session the pair fell to $ 1.4880

USD / JPY: during the Asian session the pair rose to Y119.50


Another data lite day for the UK with attention on Germany ZEW at 0900GMT. Wednesday brings BOE Minutes and Thursday UK retail sales. Until then main market focus remains on Greece debt woes and linked comment. UK General Election remains a background factor with betting now favouring a minority Labour led government.

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