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Markets More Steady, Central Banks Digested

FOREX
  • Markets are more steady early Friday, with traders digesting the deluge of central bank decisions this week. NOK is seeing some support as the oil price stabilises following yesterday's sharp drawdown, with underlying support also stemming from the steeper rate path projections outlined by the Norges Bank yesterday.
  • CHF and EUR are among the morning's worst performing currencies, with ongoing vaccine ire over the rollout of the AstraZeneca treatment across the EU raising concerns over the continent's recovery plans. EUR/USD is circling overnight lows at 1.1902.
  • In recent trade, GBP has seen some modest strength helping buoy GBP/USD toward 1.3960 as wires report that the UK and EU is edging closer to a limited finance trade deal with the European Union.
  • Focus turns to the Russian rate decision (expected unchanged at 4.25%) and Canadian retail sales data for January. Speeches are due from ECB's Panetta & Vasle and BoE's Cunliffe.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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