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Euro rallies on reduced ECB cut hopes and strong German data, Aussie strong
The Euro is one of the main games at the moment and last night bounced perfectly off support in EURGBP as stronger than expected German Factory orders (+3.3% v +0.5% expected) and reduced expectations of an ECB cut tonight after an MNI report, citing “unnamed officials” saying they want more time to wait and see , helped Euro regain some of its recent weakness and it sits at 1.3522 this morning. As always we respect trendlines unless and until they break. On other FX markets GBP rose 0.24% to 1.6082. USDJPY is up 0.19% to 98.68 while the Aussie dollar is 0.23% higher and breaking up through the resistance zone ... (full story)
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