Thursday was light on economic data from the United States, but it would have little importance anyway. The major event today was the monetary policy meeting of the European Central Bank, and it was well worth the attention, throwing markets in disarray. EUR/USD sank initially after the event but recovered afterwards, demonstrating a strong rally. What has happened is that the ECB did not disappoint with the amount […]
Read moreToday’s trading session was very volatile for the Forex market due to the monetary policy meeting of the European Central Bank. The euro sank immediately after the gathering but bounced afterwards. Most market participants were expecting additional stimulus from the ECB and the central bank did not disappoint. It reduced all its interest rates, including the key rate which has been cut to zero — a huge surprise to the market. Additionally, […]
Read moreThe Canadian central bank left its interest rates stable during the Wednesday’s policy meeting, surprising no one. The Canadian dollar jumped as a result and kept its gains during the early Thursday’s trading hours. Unlike the Reserve Bank of New Zealand, the BoC did not provide any surprises to the market, leaving its key interest rate at 0.5%. The bank sounded rather confident in the state of the global economy: The global economy is […]
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