ECB April Meeting Expectations April ECB meeting will be the highlight of the week for EUR/USD. ECB President Christian Lagarde compared the Eurozone economy with a patient on two crutches. The two crutches of course being the fiscal and monetary policy. Given the rise in cases, new lockdowns and emergence of new variants, the crutches are not expected to be going away anytime soon.
The Bank of Japan has finally stepped away from some components of its aggressive monetary policy which began in 2013. Since 2016, the BoJ has committed to keep the 10-year bond yields around zero. Here are the important takeaways from the March BoJ meeting. The BoJ will now finally allow the 10-year bond yield to oscillate in a larger range than previously, ±0.
Anyone who has been following the Currency Market would know that the US Dollar weakness has been a dominant theme since the second quarter of 2020. Dovish FED, loss of safe haven appeal following the recovery in global risk appetite and economic damage from the pandemic, all led to the deterioration of the fundamental landscape for the US Dollar.
EUR/USD Daily Is the EURO gearing up for a test of $1.2550? Well only time will tell as no one knows what will happen in the markets. But that does not stop one to remain curious and explore the analytical tools available at one’s disposal. This week we take a look at the EUR/USD exchange rate from an Elliot wave prospective.
The old saying in the Market business “The trend is your friend” until it’s not!. For this reason it’s crucial for market participants to be on the lookout for trend changes even temporarily. Exchange USD/CHF currently exhibited this behavior. USD/CHF Daily USD/CHF has broken above the blue trendline dominating the down trend since the US Dollar weakness began early April in the wake of the Global risk appetite.