Following the recent improvement in UK data, the Bank of England was widely expected to sound a little more upbeat about the economic outlook with virtually no one forecasting any further easing of monetary policy.
The AUDUSD pair initially tried to fall, but then turned around to slam into the 0.75 level.
Oil prices have been extremely volatile of late, without making any significant progress in either direction. The long and short of it is that the stream of mostly negative news has helped to halt the recent rally, while ahead of this month’s informal meeting of the OPEC in Algeria not many people will want to be betting boldly on an oil price plunge. Therefore consolidation is the dominant theme in
The EURUSD pair went back and forth during the day on Monday, as we continue to try to find our footing in this market.
The Australian dollar initially fell during the course of the session on Monday, testing the 0.75 level.
The dollar staged a broad-based rally on Thursday to make back some of the losses it had suffered earlier in the week which had been on the back of a poor ISM services PMI reading and last week’s disappointing jobs report.
Nervous best describes US equity markets today, and with so many influences now coming to bear, and this nervous tension can only increase over the next few weeks.
The EURUSD pair initially took off to the upside during the day on Thursday, but turned right back around below the 1.1350 level to form a shooting star.
The AUDUSD pair initially tried to rally during the course of the day on Thursday, but then turned right back around to form a nasty looking shooting star.
ECB’s inaction clearly disappointed a few people as European stock indices dropped when the policy statement was released.
