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Day: June 6, 2019
June 62019
Euro Rallies to New Highs After ECB Rate Decision and TLTRO Terms
The euro today rallied to new multi-week highs when the European Central Bank announced the terms of its TLTRO III facility, which were better than expected. The EUR/USD currency pair had traded lower following the ECB rate decision but spiked higher after Mario Draghi‘s speech. The EUR/USD currency pair today rallied from a session low of 1.1200 to a high of 1.1308 after the TLTRO III unveiling and was near […]
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June 62019
EUR/USD Surges After ECB Monetary Policy Meeting
EUR/USD was somewhat volatile after today’s monetary policy meeting of the European Central Bank but ultimately decided to go higher. (Event A on the chart.) ECB President Mario Draghi signaled that the central bank does not plan interest rate hikes until at least mid-2020, but markets decided that his stance was not that dovish. (Event B on the chart.) As for US macroeconomic data, it was largely […]
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June 62019
Canadian Dollar Rises on Crude Rebound, Boost in Labor Productivity
The Canadian dollar is strengthening on Thursday, driven by the rebound in crude oil prices and an increase in quarterly labor productivity. Manufacturing and trade data were also published, contributing to the near-term direction of the loonie. Despite the disappointing numbers as of late, Canadians are less pessimistic about the economy, especially after the US recently lifted tariffs. On Wednesday, crude slipped into a bear market as oil prices cratered to a six-month low. But prices are beginning […]
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