13 Mar 2014
Session recap: risk aversion takes hold
FXStreet (Guatemala) - The FX space was once again dominated in rising tensions between Russian and Ukraine with reports of Russian troop build-ups along the Ukrainian border. The dollar was firm on positive data releases in the form of retail sales and initial jobless claims numbers. The Yen was also a major benefactor on risk aversion in risk-off markets.
EUR/USD was offered form the off on Draghi commenting that the ECB are prepared to intervene on euro strength. The Euro has been as low as 1.3866 making for over a big figure of losses.
USD/JPY extended earlier losses in Europe from 102.80 and marked a low of 101.78.
AUD/USD, and in the same respect the kiwi, was damaged as Chinese GDP forecasts were lowered by a number of banks. The aussie reached a low of 0.9011 and the NZD fell onto 0.8520.
Main Headlines
US retail sales beat expectations at 0.3% in February
US jobless claims impress
RBNZ's McDermott said "Moderate rise in rates preferable over next couple of years".
ECB's Draghi suggests prepared to intervene
EUR/USD was offered form the off on Draghi commenting that the ECB are prepared to intervene on euro strength. The Euro has been as low as 1.3866 making for over a big figure of losses.
USD/JPY extended earlier losses in Europe from 102.80 and marked a low of 101.78.
AUD/USD, and in the same respect the kiwi, was damaged as Chinese GDP forecasts were lowered by a number of banks. The aussie reached a low of 0.9011 and the NZD fell onto 0.8520.
Main Headlines
US retail sales beat expectations at 0.3% in February
US jobless claims impress
RBNZ's McDermott said "Moderate rise in rates preferable over next couple of years".
ECB's Draghi suggests prepared to intervene