News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Channel break leaves gold adrift. One technical indicator suggests the sell-off may be overextended. Get your market update from @nickcawley1 here:https://t.co/zRBQqac8ac https://t.co/ET1dHsqKFg
  • Please join @JStanleyFX at 14:00 EST/16:00 GMT for a webinar on trading price action. Register here: https://t.co/rFhWzz0pIy https://t.co/melMU6h4Jr
  • No follow through on the Nasdaq's and S&P 500's record high close yesterday. Not surprising with the FOMC on the forward looking threat radar. Meanwhile, the Dow is listing dangerously like a boat taking on water. Will the Fed save or sink? https://t.co/GIkChQdOKZ
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 75.11%, while traders in France 40 are at opposite extremes with 79.40%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/K4d2XxyGdx
  • WTI enjoying another strong session, up over 1% on the day and currently trading just below $72/bbl #Oil $CL_F #WTI https://t.co/UGf668BEt4
  • IG client sentiment data are sending bullish signals for both USD/CHF and EUR/CHF, suggesting a weaker Swiss Franc all around. Get your market update from @MartinSEssex here:https://t.co/2DJ7HuVnRP https://t.co/4xaNF4FjXN
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.25% Gold: -0.62% Silver: -1.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/WsLmJFTVct
  • $DXY $USD | US Dollar Index little changed after tagging its negatively sloped 50-day simple moving average earlier in the session as markets get positioned for FOMC event risk tomorrow. https://t.co/d7DE8WF0ZI
  • 🇷🇺 GDP Growth Rate YoY Final (Q1) Actual: -0.7% Expected: -1% Previous: -1.8% https://www.dailyfx.com/economic-calendar#2021-06-15
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.02% France 40: -0.02% Germany 30: -0.06% US 500: -0.34% Wall Street: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/SalQF25bMw
ECB Press Conference Invites Minimal Volatility, Limited EUR/USD Range

ECB Press Conference Invites Minimal Volatility, Limited EUR/USD Range

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- ECB keeps main rates on hold, as expected.

- President Draghi displays optimism over economy, but promises continuation of QE.

- EURUSD trades between $1.0582 and $1.0618 during first half of press conference.

The European Central Bank’s rate decision and press conference were notably quieter than meetings past, but that was to be expected with no change forecast in the main interest rate and interest rate corridor, and no change in the recently unveiled QE program. While the most exciting moment of the press conference came when a protestor interrupted President Draghi’s opening statement, FX markets were little impressed with the update on the state of affairs in the Euro-Zone.

The comments that President Draghi issued were fairly predictable and rather bland: recent economic data has been improving, but it’s too early to declare the crisis over; the ECB will continue its QE program until there is a sustainable pickup in inflation back towards the +2% annual target; the ECB intends to fully complete its QE program through September 2016; and there is no concern over the scarcity of bonds available, so there won’t be a change in the main interest rates for the foreseeable future.

See the DailyFX economic calendar for Wednesday, April15, 2015.

EURUSD 1-minute Chart: April 15, 2015 Intraday

ECB Press Conference Invites Minimal Volatility, Limited EUR/USD Range

Around the rate decision and press conference, EURUSD held around its opening level of $1.0595, reaching a high of $1.0618 and a low of $1.0582 during the period. While prices oscillated fairly quickly between these two levels, there was a notable lack of directional trade around the ECB commentary. The two prior ECB meetings produced EURUSD daily ranges of 334-pips and 127-pips, whereas today’s range was only 93-pips at the time this report was written.

Read more: Trade Setups in EUR-crosses Ahead of ECB Meeting

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES