Session Recap: Euro rises on Draghi's words; USD finally hurt by risk aversion

The EUR/USD has finally wakened on the bullish Mario Draghi's words on Eurozone growth. The ECB president said that a gradual recovery in the Eurozone will start in the second half of 2013. However, the ECB has downgraded growth forecast to a range of -0.9% to -0.1% with the CPI between 1.2% & 2.0% in 2013.

The EUR/USD jumped on the session to March highs at 1.3115 and currently is fighting to hold above the 1.3100 mark. The GBP/USD enjoyed the risky environment but the sentiment wasn't enough as the BoE remained unchanged versus some expectations of an increase in the amount of QE. The Cable jumped to 1.5080 but the pair faded away to test the 1.5000 level.

The USD/JPY reached the 95.00 level for first time since August 2009, the USD/CAD retreated below the 1.0300 and the AUD/USD is consolidating levels above the 1.0250 zone.

Main Headlines in America (in chronological order)

US: Initial Jobless Claims fell to 340K

US Trade Balance: $-44.45B in Jan from $-38.14B in Dec

Forex: USD/JPY surges to 2009 highs on Draghi speech

Forex: EUR/USD advances as Draghi speaks

Commodities Brief – Precious metals edge higher on US data, crude breaks above 91.00

Forex: GBP/USD adds to BoE bounce on Draghi speech

ECB's Draghi: Rate cut considered at March meeting

American equity markets open cautiously Thursday

Forex: USD/CAD falls below 1.0300

Fundamental Afternoon Wrap: No Twist as Banks hold

Forex: AUD/USD nears 1.0300 as USD weakens

Forex: EUR/USD peaks at 1.3116, consolidating gains

Euro finds its way back to 1.3100

Forex: USD/JPY in multi-year highs above 95.00

Forex: GBP/USD backs away from highs

US markets in green on US data, dollar retreats


Forex: US Dollar Index revisiting session lows