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Forex Flash: RBA Stevens testimony on Friday attracting attention – TD Securities

Given that the RBA Board meeting minutes followed Friday’s comprehensive quarterly Statement on Monetary Policy, it had to say something materially new to garner attention: “They didn’t, merely confirming that global conditions had improved and domestic data were mixed.  A repeat of “the inflation outlook…would afford scope to ease policy further, should that be necessary to support demand” confirmed the easing bias whilst in wait and see mode”, wrote TD Securities analysts, pointing to market attention on Governor Glenn Stevens’ testimony to Parliament on Friday morning, “where the strong AUD and peaking resource sector are likely to feature heavily”. “Note that Stevens speaking for himself tends to be more hawkish than Board communiqué per se”, said analyst Annette Beacher.

Forex: EUR/USD at lows after ZEW nice surprise

The EUR/USD went for a spike high to 1.3373 as the ZEW survey got released, but that momentum didn't last long and the market eventually gone back to its lows, around 1.3330.
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Forex Flash: In search of market stimuli – Deutsche Bank

According to the Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “With the US markets closed for President's Day and no major economic releases in the last 24 hours, the focus has remained squarely on the yen, which has had yet another volatile overnight session.” Indeed, the yen rallied higher against the American dollar in early Asian trading after a number of comments from Japan's finance minister Taro Aso. Aso told a news conference that there are no intentions of buying foreign bonds, a day after Prime Minister Abe said such a policy could be an option for future easing.
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