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4 Jul 2013
Session Recap: EUR/USD steadies after Draghi's shake, NFP ahead
FXstreet.com (Córdoba) - Following a wild start to the session in the wake of BoE and ECB dovish statements, major pairs in the FX market managed to stabilize and settled within narrow ranges in the absence of US markets and ahead of the NFP report.
As if it had been planned, both the Bank of England and the European Central Bank came up and provided some forward guidance on monetary policy, leaning to further monetary support if needed. Dovish approaches boosted stocks across Europe but crashed the GBP and the EUR.
GBP/USD slumped to levels sub-1.5100, scoring a 5-week low of 1.5054 before settling around 1.5070. EUR/USD shows a similar picture, having traded as low as 1.2881 before bouncing slightly to the 1.2920 zone.
USD/JPY treaded water around 99.90/100.00 while the AUD/USD managed to secure gains at the 0.9160 area.
Main Headlines in America:
BoE leaves policy unchanged but issues dovish statement
ECB leaves rates unchanged in July, Draghi eyed
Draghi: ECB to keep interest rates at low level for extended period of time
Commodities Brief – Precious metals in retreat, crude maintains 101.00
European bourses closed with strong gains
As if it had been planned, both the Bank of England and the European Central Bank came up and provided some forward guidance on monetary policy, leaning to further monetary support if needed. Dovish approaches boosted stocks across Europe but crashed the GBP and the EUR.
GBP/USD slumped to levels sub-1.5100, scoring a 5-week low of 1.5054 before settling around 1.5070. EUR/USD shows a similar picture, having traded as low as 1.2881 before bouncing slightly to the 1.2920 zone.
USD/JPY treaded water around 99.90/100.00 while the AUD/USD managed to secure gains at the 0.9160 area.
Main Headlines in America:
BoE leaves policy unchanged but issues dovish statement
ECB leaves rates unchanged in July, Draghi eyed
Draghi: ECB to keep interest rates at low level for extended period of time
Commodities Brief – Precious metals in retreat, crude maintains 101.00
European bourses closed with strong gains