This morning, euro remains under pressure following yesterday’s downbeat ECB meeting. Markets are re-assessing prospects for the euro after Mario Draghi pointed to the slowdown in Q1, questioning whether it was temporary or permanent. The EUR/USD is unchanged today after hefty selling yesterday, the EUR/JPY is following a similar track.
The dollar index is unchanged after continuing to advance yesterday. Dollar pairs have a negative bias though, with the AUD/USD continuing to crumble.
The pound experienced losses yesterday against the dollar, but these were relatively measured compared to other dollar pairs. The EUR/GBP broke through the 0.8700 level, a previous support level.
The Swiss franc continues to weaken, with the USD/CHF marching towards parity. The USD/CHF has continued to rise for the ninth straight day.
As the dollar consolidates, gold has continued to stumble, trading at its lowest levels for the month this morning.
Spanish flash CPI and GDP is at 08.00.
SNB chairman Jordan speaks at 09.00.
UK GDP (prelim) is at 09.30. BOE governor Carney speaks at 15.00.
At 13.30, we get US advance GDP, with employment cost index released at the same time.
Revised UoM consumer sentiment is at 15.00.
With the US dollar index continuing to dominate, the AUD/USD has suffered.