15 Apr 2015
Greenback giving mixed signals - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that in quite a volatile journey, the dollar ended down across the board, as more local weak data alongside with rising stocks and risk appetite, finally took their toll over the American currency.
Key Quotes:
"Earlier in the day, the ECB has had its monetary policy meeting, leaving rates and QE unchanged, and if something, there was a slightly change in wording, as President Mario Draghi stated that " QE will continue until sustained adjustment in inflation" is reached, meaning it will likely extend beyond September 2016, something the market has already priced in."
"The US economy can take a breath, as data released this Wednesday shows that the New York Empire State manufacturing index came out negative at -1.19 against the 7.0 expected, whilst Industrial Production figures for March, also missed expectations."
"The only "positive" news, was that oil´s stocks grew by far less than expected, only 1.3M last week, triggering a rally in the commodity which resulted in additional weight over the greenback."
"Later on in the day, during the American afternoon, the Beige Book showed that growth continued across most of the U.S. in February-March, halting the sell-off by the end of the day."
Key Quotes:
"Earlier in the day, the ECB has had its monetary policy meeting, leaving rates and QE unchanged, and if something, there was a slightly change in wording, as President Mario Draghi stated that " QE will continue until sustained adjustment in inflation" is reached, meaning it will likely extend beyond September 2016, something the market has already priced in."
"The US economy can take a breath, as data released this Wednesday shows that the New York Empire State manufacturing index came out negative at -1.19 against the 7.0 expected, whilst Industrial Production figures for March, also missed expectations."
"The only "positive" news, was that oil´s stocks grew by far less than expected, only 1.3M last week, triggering a rally in the commodity which resulted in additional weight over the greenback."
"Later on in the day, during the American afternoon, the Beige Book showed that growth continued across most of the U.S. in February-March, halting the sell-off by the end of the day."