Europe FX Handover – 10 April 2019
Matt Weller, CFA, CMT April 10, 2019 8:21 AM
See a summary of the top FX themes and trends ahead of today's US session!
- The EU will vote on PM May’s request for another Brexit delay later today; most analysts expect the extension to be approved, potentially to the end of the year or beyond. The pound is, along with aussie, one of the strongest major currencies on the day, with GBP/USD trading back to 1.3100.
- UK February GDP printed better than expected at +0.2% m/m vs. 0.0% eyed, buoyed by stockpiling ahead of a potentially disruptive Brexit.
- The ECB made no meaningful changes to its monetary policy statement. EUR/USD is nudging higher at 1.1280 ahead of ECB President Draghi’s speech.
- Gold is turning higher off support, with bulls now potentially eyeing a move up to test the March highs.
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