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A summary of news and snapshot of moves from today’s Asia session.

Today’s relative calm gives us chance to reset the technical outlook for the world’s most widely-traded currency pair. From a longer-term perspective, EUR/USD remains in a well-defined downtrend since peaking back in September...

After potentially the quietest quarter in its history, the world’s most widely-traded currency pair finally broke out last week…but the big question for traders is “will it hold?”

Just a day after stronger Chinese macro pointers helped to alleviate concerns over a global economic slowdown, that optimism has quickly faded with the latest Eurozone data once again dampening expectations over growth.

In recent sessions, EUR/USD has drifted down towards long-term support. Given we’ve not seen a weekly close beneath 1.1200 in 21-months and the daily timeframe is looking stretched, a bounce from current levels is not out of the question.

After falling for six of the past seven days, it wasn’t surprising to see EUR/USD rally off its 1.1215 support level in today’s Asian session trade. Unfortunately for EUR/USD bulls, that move has turned out to be a brutal April Fool’s Day prank.

With the never-ending Brexit saga garnering all the headlines, volatility in EUR/USD has dried up. The 3-month implied volatility reading for the world’s most-traded currency pair dropped below 5.60% today, its lowest reading in five years. In addition to the typical lethargic pre-weekend trade, over €4B in expiring options were struck between 1.128...

The yen was already supported by global growth concerns, before the ECB took a sledge-hammer to the Euro with a fresh round of TLTRO’s and slashed growth forecasts. And judging from price action on EUR/JPY, we don’t think bears are done just yet.

As unanimously expected, including by my colleague Fawad Razaqzada, the European Central Bank made no changes to monetary policy in today’s meeting. In its statement, the institution reiterated that it would leave interest rates unchanged through at least this summer, or as long as needed for inflation to converge toward the central bank’s target. O...

The US government shutdown is dragging on into its 26th day with no end in sight, but the market impact has been limited so far. Indeed, the S&P 500 is has gained 8% so far, a return that is by far the strongest performance through a government shutdown to date. Meanwhile, the US dollar has ticked lower by about 1%, but few traders would argue that ...

There has been further follow-through in euro selling on the back of today's publication of disappointing manufacturing and services sector surveys from the Eurozone, underscoring the ECB President Mario Draghi’s "increasing caution" outlook on the economy and highlight euro's vulnerability.