EUR/USD demonstrated a huge leap today, jumping 3%, after the European Central Bank disappointed those market participants who were counting on extensive stimulus measures. While the central bank added some stimulus, it left its main interest rate and the size of asset purchases unchanged. Meanwhile, the US service indices missed expectations, further bolstering the euro versus the dollar. Initial jobless claims rose from 260k to 269k […]
Read moreMany Forex traders and analysts were expecting a dramatic easing announcement from the ECB today. Instead, the announcement avoided an exotic measures and, rather than weakening the euro, sent the 19-nation currency surging against its counterparts. For weeks, Mario Draghi has been hinting that exotic, desperate measures would be on the table for the eurozone. He has been talking about the importance of “doing what it takes” to stimulate the economy […]
Read moreUK pound is trading mixed today as Forex traders and others consider where sterling might go from here. Recent economic data was disappointing, and the latest ECB announcement didn’t meet market expectations. For the most part, the UK pound appears to be the middle, between the euro and the US dollar. With policy divergence coming between the eurozone and the United States, the UK pound feels a little like a compromise. Indeed, the sterling […]
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