Forex trading news and economic data headlines 8 March 2017

Happy International Women's Day to all our readers #BeBoldForChange

News:

  • UK Budget Preview: Get ready for hot air spliced with some subtle balancing of accounts
  • Here's why the UK Budget will be important for Brexit
  • UK Budget will increase economic resilience for life outside of the EU
  • The EU must offer the best tariff terms to the UK after Brexit
  • GBPUSD creeping lower as it can't hold a bid
  • USD demand notable as the European session gets fully underway
  • French Opinionway poll swings further to Macron in the 2nd
  • Germany's SPD closing the gap on Merkel's CDU in latest election poll
  • Hold that front page on German election expectations - Latest IPSOS poll has SPD support waning
  • China says it will fend off risks in property market
  • Option expiries for the 10 am NY cut today 8 March
  • Nikkei 225 closes down -0.47% at 19,254.03

Data:

  • China Feb USD-denominated trade balance USD -9.15bln vs +USD 25.75bln exp
  • China's Jan-Feb USD denominated total trade balance +13.3% yy
  • Germany January industrial production mm SA +2.8% vs +2.7% exp
  • Switzerland February CPI mm +0.5% vs +0.2% exp
  • US MBA mortgage applications 3.3% vs 5.8% prior
  • France January trade balance EUR - 7.94bln vs -3.8bln exp
  • Spain January industrial output yy NSA 7.1% vs -1.5% prev
  • Japan economy watchers survey current Feb 48.6 vs 50.0 expected

ForexLive sends its very best wishes to all our lady readers on this welcomed day of recognition around a whole series of related issues.

On the exchanges gentle USD rally has been the theme of the morning with the pound once again under pressure.

After another look at 113.60 USDJPY has been on a steady rise to 114.12 and that halted an early dip in yen pairs and put downward pressure on the other core pairs.

GBPUSD has dribbled its way down to 1.2139 from 1.2205 , EURUSD to 1.0547 from 1.0575, and AUDUSD 0.7554 from 0.7585. USDCHF has found its way higher marred by a retreat in EURCHF back through 1.0700 after the SNB have seemingly taken their foot off the pedal.

USDCAD has needed little excuse to rally on the USD demand/softer oil price combo and has been up to test 1.3450 from 1.3400.

Gold has fallen, equities have risen as a risk-on/ish sentiment has prevailed.

UK Budget coming up around 12.30 .Previews above .