Forex trading headlines from the European morning session 3 April

News:

Data:

An understandably cautious morning session as we wait for the all important event of the day/year/month/century etc but we’ve seen the not so mighty pound under some pressure after weaker services PMI.

A mixed bag of Eurozone PMI had left the euro largely unmoved with EURUSD pinned around 1.3765 and other pairs in tight ranges. But then came the UK reading and GBPUSD fell to 1.6605 from 1.6640 and then finally through the previously stubborn buying interest at 1.6600 to session lows of 1.6582 before finding a little support.

EURGBP needed no excuse for another pop at 0.8300 from 0.8270 and posted 0.8302 so far, but still mindful of the decent resistance up to 0.8310. GBP pairs have all naturally suffered in the wake.

Elsewhere it’s all been a bit of a yawn to be honest. USDJPY has been pinned around 103.90 and USDCHF around 0.8870. AUDUSD found support toward 0.9200 and has had a rally to 0.9240 while NZDUSD has also found support on the dip to 0.8515 to climb back to 0.8542.

The loonie once again finds itself in favour and USDCAD has given up its gains from yesterday to drift back down below 1.1010 to once again have a look at the strong 1.1000 barrier interest.

So, bring on the ECB and let battle commence.