Europe FX Handover - 4th April 2019
Fawad Razaqzada April 4, 2019 1:28 PM
A summary of news and snapshot of moves ahead of US open
- Tight ranges continued to dominate ahead of Friday’s US jobs report. The Aussie remained the strongest currency and pound the weakest.
- Light day for economic data but we had some negative news from Europe: (1) German factory orders fell 4.2% month-over-month, weighed down by a 6% drop in foreign orders, and (2) reports emerged that Italy may cut 2019 GDP forecast to 0.1% from 1%, leading to a 2019 budget deficit at 2.3-2.4%. The news weighed on the euro and Italian stocks slightly.
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