USD 
EUR 
GBP 
CAD
It's been a wild ride today, and you'd have noticed the AUDUSD moving higher with those risk-on flows yesterday, which was pretty wild. According to ForexLive, the price did run into some topside resistance that stalled the pair, but it's still looking strong. And if you were watching EUR/USD, you'd have seen it holding steady around 1.09, which isn't bad considering the Eurozone inflation rose to 2.5% year-on-year in March, driven mainly by higher petrol and energy prices, as ABN AMRO's Senior Economist Bill Diviney pointed out.
But what really caught my attention was the ECB Cipollone Speech, which had a significant impact on the markets. The speech was closely watched by traders, and it seems to have boosted the euro slightly. And let's not forget the S&P Global Manufacturing PMI (CAD) at 1:30pm, which was a high-impact event that could've moved the CAD. Now, the New Zealand Dollar / Euro is trading at 0.4963, and the Euro / Yen is at 184.2437, both unchanged on the day. The Euro / British Pound is at 0.8719, also unchanged, while the New Zealand Dollar / British Pound is at 0.4327.
If you were trading USD/CAD, you'd have seen it trading with a softer tone today, around 1.3891, retreating from its previous highs. FXStreet Forex pointed out that this is due to a pullback in the US Dollar, which is lending support to the Canadian Dollar. And honestly, it's not surprising, given the expectations for the March US labor report, which TD Securities analysts think will show a normalization in Nonfarm Payrolls, with headline gains of 30k.
As the day comes to a close, we're seeing the markets settle into their new ranges. The Euro / British Pound is still trading at 0.8719, and the New Zealand Dollar / Euro is at 0.4963. And with the Iran conflict still simmering in the background, according to Reuters, who's citing a source briefed on the matter, it's likely we'll see some more volatility in the coming days. What's coming next? Well, it's hard to say, but one thing's for sure - it's gonna be interesting.
Central Banks Steal Spotlight
But what really caught my attention was the ECB Cipollone Speech, which had a significant impact on the markets. The speech was closely watched by traders, and it seems to have boosted the euro slightly. And let's not forget the S&P Global Manufacturing PMI (CAD) at 1:30pm, which was a high-impact event that could've moved the CAD. Now, the New Zealand Dollar / Euro is trading at 0.4963, and the Euro / Yen is at 184.2437, both unchanged on the day. The Euro / British Pound is at 0.8719, also unchanged, while the New Zealand Dollar / British Pound is at 0.4327.
If you were trading USD/CAD, you'd have seen it trading with a softer tone today, around 1.3891, retreating from its previous highs. FXStreet Forex pointed out that this is due to a pullback in the US Dollar, which is lending support to the Canadian Dollar. And honestly, it's not surprising, given the expectations for the March US labor report, which TD Securities analysts think will show a normalization in Nonfarm Payrolls, with headline gains of 30k.
As the day comes to a close, we're seeing the markets settle into their new ranges. The Euro / British Pound is still trading at 0.8719, and the New Zealand Dollar / Euro is at 0.4963. And with the Iran conflict still simmering in the background, according to Reuters, who's citing a source briefed on the matter, it's likely we'll see some more volatility in the coming days. What's coming next? Well, it's hard to say, but one thing's for sure - it's gonna be interesting.