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FX Daily

Main event is the ECB meeting. We do not expect rate cuts or QE in connection withthe meeting but all options are expected to be left open.

After making marginal fresh 3 month lows Wednesday gold recovered a little.

As expected, Bank of Japan (BoJ) did not announce any new easing measures in connection with today’s monetary meeting.

German bond yields continued to rise yesterday on the back of reports of a cease-fire in Ukraine,

The pair closed in NY on Wednesday at $0.9345 after having traded a $0.9263-0.9351 range on the day and

The $96.00-78 region remains key resistance with Wednesday’s aggressive bounce confirming

The $1.3159 level largely confirmed its significance as initial resistance Wednesday with the bounce having traded above by a pip.

The pair started at $1.3150 this morning after a $1.3132 to $1.3160 range last night in the US.

Despite daily studies at O/B levels Stoxx50 continues to make gains with

The pair recovered off Asian session lows to $1.6497 on Wednesday after it found support from strong UK Services PMI data and

The pair recent rise through Y105.00 lost steam last night during the US session,

We expect the September MPS to imply the RBNZ will remain on hold until early 2015.