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Forex Flash: RBA gov Stevens not a market moving event – NAB

FXstreet.com (Barcelona) - RBA Governor Stevens is due to speak at the ASIC Forum in Sydney at 04:45 GMT. “A speech title is not currently available but we doubt it will be a market moving affair,” say NAB analysts, who add: “Nor too should the RBA’s half yearly Financial Stability Review, out at 11:30 Aest.”

“There was a summary of this in last week’s Minutes when the Board was briefed on it and where it was noted that business profitability had fallen and business failure rates were increasing,” they expand, “including from the high Australian dollar.”

Forex: EUR/AUD to fresh 4-month lows sub-1.23 on EU's Dijsselbloem comments

EUR/AUD is currently at 1.2289, following the biggest single day fall in the month from yesterday's highs at 1.2495, leaving behind 200 day SMA at 1.2415 last. The cross is down -1.16% for the week so far, off recent fresh 2013 lows at 1.2272, lowest since late Nov. Euro is the weakest currency among majors for last 2 trading days, following developments in Cyprus, while Aussie is third strongest one, below Yen and Kiwi. RBA Gov Stevens is due to speak at the Australian Securities and Investments Commission (ASIC) Annual Forum in Sydney, at 04:45 GMT.
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Forex Flash: Cyprus will face a deep and prolonged adjustment process – BBH

Yesterday Cyprus reached an agreement with the troika that allowed the country to save its financial system but in the long term is going to face a deep and prolonged adjustment process, according to Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman.
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