After the drama of Friday, we saw a relatively subdued start to the week in FX markets. The two main events of the day, namely the start of QE in the eurozone and also further tension surrounding Greece look to be more “slow burn” affairs, rather than having an instant impact. Indeed, both have many unresolved issues. For the ECB’s QE program, it is how to deal with buying bonds with negative yields and the resulting losses that risk ending up hitting the central bank’s bottom line. This is most pertinent for Germany, where yields are negative out to the 6 year maturity. We also have to find out to what degree overseas sellers are going to be selling bonds and repatriating cash, with the resultant downward push on the single currency. We saw a pause in dollar strength yesterday, which allowed sterling and the dollar bloc currencies (CAD, AUD, NZD) to recover the most. Most of this has been given up overnight, with the dollar index making new highs (once again). The Aussie is closest to making new lows for the year, with USDJPY exploring new territory, having pushed above the December highs. There are no major data releases for today, although several UK MPC members are scheduled to speak later in the day. Greece is also not likely to be far from the headlines. Note that the kiwi rate decision will happen overnight tomorrow, where rates are seen holding steady at 3.50%. The kiwi has declined for the past four sessions but remains above the year’s lows of 0.7177. Further reading: EUR/USD targets down to 1.05 in 3m, 0.98 in 12m – CS EUR/USD < 1.08 & closer to critical support on 3 factors FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Daily Look share Read Next AUD/USD at lowest since 2009 – falls hard Yohay Elam 8 years After the drama of Friday, we saw a relatively subdued start to the week in FX markets. The two main events of the day, namely the start of QE in the eurozone and also further tension surrounding Greece look to be more "slow burn" affairs, rather than having an instant impact. Indeed, both have many unresolved issues. For the ECB's QE program, it is how to deal with buying bonds with negative yields and the resulting losses that risk ending up hitting the central bank's bottom line. This is most pertinent for Germany, where yields are negative out to the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.