Forex news from the European morning session 2 March 2015

News:

Data:

It's been a session heavy on data, light on rhetoric and one that's favoured the euro after the recent pressure lower

EURUSD looked a little wobbly to start with around 1.1360 but a run of decent data brought the buyers in and we were soon heading up toward 1.1200 but stalling around 1.1190 before finally heading through and posting 1.1241

Other euro pairs have enjoyed a similar reprieve this morning with EURGBP testing 0.7300 again after 0.7239 Asian lows and EURJPYposting 134.59 from 133.80. The better overall data with falls in unemployment as well have added to a feelgood/feel better mojo

USDJPY has enjoyed support around 119.80 on EURJPY buying but failed so far to breach 120.00 while USDCHF has given up a few gains to 0.9578 but still looks well supported as EURCHF chews its way higher again with 1.0748 posted so far from 1.0370

GBPUSD had an early look below 1.5400 but was then heading higher again up toward 1.5429 on better data before being capped as EURGBP continued its march higher after a little wobble around 0.7265

USDCAD had a little move back below 1.2500 to test 1,2480 support but has since drifted back up while AUDUSD and NZDUSD have also found a little demand off the lows started in Asia

US data coming up but may be delayed as per the headline above but we'll see how much this euro demand is sustained or just a bout of profit-taking