Session recap: Euro dominating

FXStreet (Guatemala) - The ECB left rates but there was an air of bullishness around the European economy with reminders of recent improvements in data from Draghi.

EUR/USD rallied to 1.3874 and has remained supported.

EUR/GBP also had the advantage while the BoE was a non event. The pair rallied and scored 0.8289.

USD/JPY enjoyed good news in the jobless numbers from the US and also rallied on higher US yields.

Main headlines

ECB kept rates on hold

US weekly jobless claims fell

US factory orders fall

Mar 7, 2014

Australia AiG Performance of Construction Index fell from 48.2 to 44.2 in February

RBA Stevens speech: Period of rates stability, AUD high by historical standards

RBA governor Stevens is addressing the Parliament’s House of Representatives’ Standing Committee on Economics, in a long so expect 3 hour testimony that should guarantee plenty of headlines. For now, after the RBA published RBA's governor Stevens official speech, the mst relevant headlines made reference to rates, saying RBA sees period of stability for rates (nothing new) and that the AUD is still high by historical standards (also not new as it repeats the same line from the last statement in policy).