Dollar holds slightly on the backfoot to start the session

<p style="" class="text-align-justify">The dollar was already slightly on the softer side from Asia trading and things are pretty much the same as we get into the European session now. EUR/USD is up 0.2% to 1.0820 while GBP/USD is up 0.3% to 1.2325, both near the highs for the day, but the ranges are still rather modest.</p><p style=""...

1h

European equities open higher to start the day

<ul><li>Eurostoxx +0.8%</li><li>Germany DAX +0.9%</li><li>France CAC 40 +1.0%</li><li>UK FTSE +0.7%</li><li>Spain IBEX +1.0%</li></ul><p style="" class="text-align-justify">This builds on the positive showing from yesterday as equities are sensing further relief in the aftermath...

1h

France March business confidence 103 vs 103 prior

<ul><li>Prior 103; revised to 104</li><li>Industrial confidence 104</li><li>Prior 104; revised to 105</li><li>Services confidence 105</li><li>Prior 106</li></ul><p style="" class="text-align-justify">Business sentiment dipped slightly in March, following a revision higher...

1h

Heads up: ECB president Lagarde scheduled on the agenda today

<p style="" class="text-align-justify">She will be participating and speaking in the opening ceremony of the BIS Innovation Hub Eurosystem Centre as noted above, alongside two other ECB policymakers - namely Villeroy and Nagel. Given the context and backdrop of the event, there might be some scant policy remarks but perhaps just affirmation that...

2h

Trade ideas thread - European session 28 March 2023

<p style="" class="text-align-justify">The dollar might be on the backfoot but it isn't suggestive of much with USD/JPY paring its advance from yesterday as we see a bit more mixed flows ahead of European trading today. The tensions and anxiety from the banking turmoil may be easing but markets are still not finding too much comfort as of yet.</p><p...

2h

Eurostoxx futures +0.4% in early European trading

<ul><li>German DAX futures +0.3%</li><li>UK FTSE futures +0.3%</li></ul><p style="" class="text-align-justify">This comes with S&P 500 futures up 10 points, or 0.25%, at the moment. The overall mood in markets is reflecting a steadier note, with Treasury yields also paring its slight drop earlier to flattish...

2h

Nothing much on the agenda in Europe today

<p style="" class="text-align-justify">The market mood is calmer for now and the dollar is struggling a little as bond yields drop slightly ahead of European trading. It's a bit of a mixed picture as outlined <a href="https://www.forexlive.com/news/a-somewhat-mixed-picture-ahead-of-european-trading-today-20230328/" target="_blank" rel="follow">here</a>...

3h

A somewhat mixed picture ahead of European trading today

<p style="" class="text-align-justify">USD/JPY is a notable mover, down 0.7% to 130.65 at the moment after the move higher yesterday starts to fizzle out. Lower bond yields is part of the picture but repatriation flows amid the Japanese fiscal year-end could also be a factor in play. For now, the 130.00 mark is the crucial support point as the...

4h

EU banking regulator (EBA) head warns " risks in the financial system remain very high"

<p>A catch up with comments from the head of the European Banking Authority (EBA), ICYMI:</p><p>EBA chair Jose Manuel Campa in the the German Handelsblatt newspaper:</p><ul><li> "The risks in the financial system remain very high"</li><li>rising interest rates continued to weigh on financial markets</li><li>the...

4h

China think tank expects China oil imports to match record high this year

<p>China National Petroleum Corporation’s Economics and Technology Research Institute (ETRI) released its annual industry outlook on Monday.</p><p>Reuters report that key forecasts include:</p><ul><li> China’s crude oil imports will average 10.8 million barrels per day (bpd) in 2023, matching the previous record high...

4h