EU Bullet Report | EUR and GOLD skyrocket after ECB

  • Overnight, U.S. stocks were mixed on a volatile, choppy day of trading as European Central Bank president Mario Draghi spooked global markets by vowing not to reduce rates any further after its Governing Council approved a wide range of stimulus measures on Thursday.
  • The move saw the EUR reverse earlier losses in a dramatic and brutal fashion surging almost 400 pips to 1.1217 from 1.0818 after investors worried that the ECB’s decisive moves could be the last attempts to rescue the EU economy.
  • GBPUSD followed the Euro higher yesterday, but ran out of momentum just ahead of the 1.4320 resistance level. Overnight, it fell to 1.4264 as the US Dollar caught a bid. Support can be expected at 1.4240 and 1.4190.
  • USDJPY declined sharply yesterday as equities turned negative post-ECB, but it recovered slightly overnight as Asian equities rose. The pair rallied from 112.80 to a high of 113.50 and another test of 114.20 seems likely in the short-term.
  • GOLD surged to a high of 1284 overnight, before settling back to 1270 at time of writing.
  • In the US initial jobless claims fell to 259k from 277k. This is the lowest level since October and is another figure in the line showing that the US labor market continues to perform well. As we are past the ECB meeting the next key event is Wednesday’s Fed meeting.

Please note: Try our new trading platform and login with your same username and password you use at easy-forex. Experience a better user interface with news, Technical Analysis and charts – all in one page.

The post EU Bullet Report | EUR and GOLD skyrocket after ECB appeared first on Forex.Info.

Source:: EU Bullet Report | EUR and GOLD skyrocket after ECB

About the Author
With over a decade of trading expertise and 100,000 fulfilled clients in 160 countries worldwide, easyMarkets will tick all your boxes whether you are a new or experienced trader, affiliate or introducing broker. [space height="20"] Trade 300+ markets including currencies, commodities, metals, vanilla options and indices from one place without the jargon, complicated offers and confusing terms! [space height="20"] Welcome to the exciting world of trading. Welcome to easyMarkets.

Related Posts

Leave a Reply