Session Recap: Euro resilient amid risk aversion

FXStreet (Córdoba) - The dollar and the yen strengthened broadly while commodities and high-yielding currencies fell Wednesday as risk sentiment continued to deteriorate. Concerns over China and tensions between Ukraine and Russia continue to weigh on sentiment, with focus on the decline of copper, iron ore, and crude oil prices.

In the FX space, the EUR/USD remains resilient despite the risk aversion, consolidating within familiar ranges above 1.3800. However, the pound has been heavier than the euro, with GBP/USD falling to a 1-month low of 1.6567. The USD/JPY consolidates below 103.00.

The AUD, the CAD and the NZD are underperforming and equity markets are under pressure. The RBNZ monetary policy decision is due next Asian session, with analysts calling for a 25bsp rate hike.

Looking ahead, there is little of note on the North American data calendar.

Main Headlines in Europe:

Flash: What lies ahead of the EUR/USD? – Commerzbank and OCBC Bank


ECB's Linde suggests more measures could be adopted ahead of LTRO expirations

Euro zone January industrial production s.a -0.2% m/m

ECB'S Cœuré: We are ready to act if deflation emerges in the Eurozone

EU says Portugal on track to meet fiscal targets