EUR Weak, USD Stronger, CAD Strongest

The euro (EUR) has been weak, giving back its gains versus most of its major counterparts even as European Central Bank (ECB) Governing Council member Noyer said that market participants should not question the central bank’s strength and capacity to intervene. The US dollar (USD) has been the currency of choice in this risk-off selling versus a basket of currencies but this basket does not include the Canadian dollar (CAD). Bank of Canada (BoC) Governor Carney pointed out that the nation’s economy is in a much better condition than the rest of the developed world, and some reduction of monetary stimulus may be proper as the economy keeps expanding steadily.

The euro (EUR) fell from 1.2350 to 1.2292 versus the US dollar (USD) as investors’ euphoria following Draghi’s comments fades away.

China released its Trade Balance overnight showing a drop in exports and industrial production. This appears to weigh down both the Australian dollar (AUD) and the New Zealand dollar (NZD).

The US dollar (USD) rose from 78.42 to 78.59 against the Japanese yen (JPY), but a higher than expected Industrial Output in Japan is likely to put the nation’s currency under buying pressure once again.

Gold (XAU) rose from 1612.14 to 1616.47 US dollars a barrel riding on the back of a day-old positive trend line

The UK TECH (NDQ) advanced from 2706.38 to 2716.88, a 0.38% daily rise