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Week in FX Europe Mar 25-30

The latest Euro monetary data continue to show that the ECB’s policy measures eased much of the distress in the financial system. For the time being it seems that deposit flight from the peripheries has eased. But although policy has prevented disorderly and chaotic deleveraging of the financial system, it has not stopped bank deleveraging completely. Overall, it has been a good week for European currencies as all have posted solid gains against the dollar. They have been supported by surprisingly stronger European data, especially after the very weak PMIs the previous week. US on the other hand have generally disappointed the market this week. Investors are beginning to brace themselves for a weak China PMI this weekend. A slew of upcoming global PMI’s, especially from the Euro peripheries could leave the single unit vulnerable in the short term. With growth remaining a concern for the region should keep the ECB dovish and rate differentials trending against the EUR.

Below are some other highlights of the week:


EUROPE

 

AMERICAS Week in FX [1]

ASIA Week in FX [2]

 

WEEK AHEAD

  • A busy week of PMI reporting from GBP, USD and CAD
  • AUD, EUR, PLN and GBP Central Banks deliver their rate announcements
  • USD releases the FOMC minutes
  • Employment reporting comes from USD and CAD
  • Aussies give us Building approvals and Trade data points
  • Retail Sales is released by AUD and CHF
  • Inflation is noted in CHF
  • GBP has HPI and Manufacturing Production to deal with
  • Finally, the Kiwis report their Business confidence findings

 

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Dean Popplewell

Dean Popplewell [7]

Vice-President of Market Analysis at MarketPulse [8]
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell
Dean Popplewell

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