# Forex Major Currencies Outlook (Mar 11, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-mar-11-2016/ Language: en Updated: 2016-03-11 Description: Explore Forex Major Currencies Outlook (Mar 11, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar weakened yesterday as the ECB stimulus expansion brought risk appetite back to the financial markets. Only the initial jobless claims report was released from the US then and it showed a better than expected 259K reading versus the projected 272K figure. Data on US import prices is up for release today and a 0.7% decline is eyed. **EUR** The euro had a volatile time during the ECB statement, as the announcement of rate cuts and an expansion of the QE program from 60 billion EUR to 80 billion EUR in monthly asset purchases initially triggered a sharp drop. However, the shared currency quickly reversed these losses during the press conference that followed since Draghi mentioned that they have no plans to cut rates again in the near future. German final CPI and Italian industrial production data are due today. **GBP** The pound scored a few gains as it took advantage of the risk-on mood that followed the ECB statement. There were no major reports out of the UK then while today has the trade balance, construction output, and consumer inflation expectations data on tap. **CHF** The franc took its cue from the euro and initially sold off then rallied after the ECB statement. There were no reports out of the Swiss economy then and there aren’t any lined up for today, which suggests that it could continue to trail the euro’s price action. **JPY** The yen had a mixed performance as it consolidated to the dollar but gave up ground to higher-yielding currencies. Earlier today Japan reported a sharp drop in its BSI manufacturing index from 3.8 to -7.9 instead of improving to 4.2 to indicate industry contraction. **Commodity Currencies (AUD, NZD, CAD)** The comdolls were able to take advantage of risk rallies but caved to the euro and franc. The Loonie was also under a bit of selling pressure as headlines indicated that Iran might not participate in the upcoming meeting among oil-producing nations. Canada’s jobs report is up for release next and a 10.2K rebound in hiring is eyed. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-mar-11-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-mar-11-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-mar-11-2016/", "headline": "Forex Major Currencies Outlook (Mar 11, 2016)", "inLanguage": "en", "datePublished": "2016-03-11T07:55:27+00:00", "dateModified": "2016-03-11T07:55:27+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (Mar 11, 2016). USDThe US. 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