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Fed was arguably more hawkish than expected, now seeing four hikes this year, or cumulative 100 bp. In addition, the bank is going to hold press conferences after every meeting, starting January 2019, which could be seen as more opportunity to hike further, provided that the economy maintains current pace. U.S. dollar spiked higher initially but reversed the very next hour, which is telling. We'll see what European traders have to say before heading to pubs and TV screens, as FIFA World Cup star…
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Cable awaits BOE QIR
Pound is again in focus with the BOE QIR a.k.a. "Super Thursday" meeting scheduled to conclude later today. There will be public releases at 11:00 GMT and a press conference at 11:45 GMT.
I think the bank will need to come up with something really dovish to send Cable below 1.43 - 1.4350 area (100 DMA, 50 DMA, Q4 2015 - Q1 2016 support/resistance line). The main risk is that they remain neutral and the pair will rally through 1.45.
I think the bank will need to come up with something really dovish to send Cable below 1.43 - 1.4350 area (100 DMA, 50 DMA, Q4 2015 - Q1 2016 support/resistance line). The main risk is that they remain neutral and the pair will rally through 1.45.
ECB hints on further easing
ECB left interest rates unchanged at today's meeting. However, there were some strong hints about further policy easing to come in March. President Mario Draghi expressed concerns about downside risks stemming from recent developments in financial and commodity markets and their influence on inflation outlook.
Mirroring a sell-off in Euro, Swissie jumped about 100 pips and then added another 20 after an initial pullback. Although violated, strong 1.0125 level held and remains the first obstacle …
Mirroring a sell-off in Euro, Swissie jumped about 100 pips and then added another 20 after an initial pullback. Although violated, strong 1.0125 level held and remains the first obstacle …
BOC holds rates
Contrary to what many expected, BOC held the overnight rate at 0.50%. Canadian dollar weakened a lot in anticipation of their move and was bought heavily after the decision.
The pair (USD/CAD) was marked down immediately but it turned around swiftly and retested pre-meeting range in anticipation of a dovish press conference. That never came and the pair continued lower, leaving a big reversal candle on the daily chart.
The pair (USD/CAD) was marked down immediately but it turned around swiftly and retested pre-meeting range in anticipation of a dovish press conference. That never came and the pair continued lower, leaving a big reversal candle on the daily chart.
ECB Press Conference Follow up
Yesterday I wrote a blog post on what to expect on the ECB press conference. The original post can be viewed at the link below
What can move the EURO during the ECB Press Conference
Here is a follow up on the Key points on what actually happened
[list][/list]…
What can move the EURO during the ECB Press Conference
Here is a follow up on the Key points on what actually happened
[list][/list]…
What can move the EURO during the ECB Press Conference
Today the ECB will have a press conference following the min bid rate. Here are the key talking points in my view -
[list=1][/list]…
[list=1][/list]…
ECB Press Conference
Link to the ECB Press Conference
http://goo.gl/rNKRMQ
http://goo.gl/rNKRMQ
ECB Press Conference
Join Dukascopy Research Team today to discuss the ECB Press Conference! http://goo.gl/vPSgTx
What to Expect From ECB
Today we have ECB interest rate decision and later Draghi's press conference which is a big risk event for the euro and it has the ability to move markets more than usual and can initiate some big movements however market expectation for today meeting are very neutral and there is not so much expectation for ECB to act this month as many sees Jun more appropriate for the ECB to take action.
Recent EUR/USD strength has been due to a lot of factors and mainly because:
[…
Recent EUR/USD strength has been due to a lot of factors and mainly because:
[…
Review - ECB Interest Rate Decision & Press Conference
As usual, Euro did not react to the ECB monetary policy decision until ECB President Mario Draghi started the press conference. The currency trended higher throughout Draghi’s speech, taking out 1.35 and 1.36 levels in the process. Although many investors may wonder what Draghi said to drive the currency up nearly 1 cent, it was what he didn’t say that set off the rally in the currency. The ECB President did not express any major concerns about the crisis in emerging markets, increased worrie…