Thursday 8 May 2014

GFX Currency Alert

Good Morning,

In his press conference this morning ECB Governor Draghi stated that the council is comfortable with adding stimulus if needed next month. He is basically setting the market up for an interest rate cut or a bond buying program akin to what the US and the UK have been doing. EURO.USD has been smashed and is down almost a 100 points since this announcement, EURO.CAD is also down 100 points, I think this represents good value if you need to buy some Euro.

For USD .CAD I think this move will help it continue to slowly drop towards lower levels over the short-term.

Mike

 
 

 

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