EUR/USD: extending declines in the US - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Valeria Bednarik, chief analyst at FXStreet explained that the shared currency extended its decline for fifth consecutive day, after the ECB's Governing Council indicated its willingness to act in March, in the Minutes of their latest meeting.

    Key Quotes:

    "The Central Bank´s head, Mario Draghi, has already anticipated their intention to review the ongoing QE in the region, and the Minutes fueled speculation that something will be done next month. The day began with some improved risk sentiment, as Asian shares gained strongly, alongside with crude oil prices.

    The positive mood, however, faded in the American afternoon, in spite data coming from the US resulted pretty encouraging, as weekly unemployment claims fell to 262K in the week ending Feb 12, while the Philadelphia manufacturing index declined by less than expected, resulting a -2.8. For this Friday, the country is expected to release its January inflation figures, expected slightly better than December ones."
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