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Day: June 2, 2016
June 22016
EUR/USD Goes Down After ECB
EUR/USD dropped after the European Central Bank conducted a policy meeting today. ECB President Mario Draghi tried to avoid any shocks, making rather neutral comments. (Event B on the chart.) Yet the outlook for the European economy remained fairly pessimistic, giving incentive for traders to sell the euro. As for US economic data, it was rather solid today, without any big surprises. ADP employment rose by 173k in May, in line […]
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June 22016
Euro Struggles After Draghi Statement
Once again the ECB has left things the same, keeping interest rates the same while at the same time staying away from adding more stimulus. Even though the euro briefly touched a recent high against the dollar, the 19-nation currency is now heading lower, thanks in part to concerns about the economy. Recent economic data has been lackluster for the eurozone, and that isn’t helping the 19-nation currency that much. Today’s […]
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