Article Highlights

  • Easter holidays are limiting trading and volatility
  • US, Russia, and other EU countries strike a peace deal in Geneva
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Ho-hum. With most countries out on Good Friday holidays, trading was light and volatility was low for the forex markets. Major pairs like EUR/USD, GBP/USD, and USD/CHF stayed in tight ranges but comdoll pairs like AUD/USD, USD/CAD, and NZD/USD continued to show a bit of dollar strength.

One of the potential currency movers is a deal struck between the U.S., Russia, and other EU countries over the weekend in Geneva. The deal calls for disarming all illegal groups and vacating government and public spaces they have occupied. In return, protesters in Eastern Ukraine would be offered amnesty. The Organisation for Security and Co-operation in Europe (OSCE) will be implementing the agreement.

Let’s see if the Asian markets show reaction to the news bit. Right now only the yen pairs are providing some action after Japan has released its worse-than-expected trade balance numbers. Australia and New Zealand are both on Easter Monday holidays though, so we’ll probably see limited price action. Still, watch out for news from China, Japan, and other major economies in case they move the major currencies.

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