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Euro Crisis Fears Revived after ECB Refuses Stimulus, NFPs Up Next

Euro Crisis Fears Revived after ECB Refuses Stimulus, NFPs Up Next

John Kicklighter, Chief Strategist

The most likely outcome for the ECB rate decision was realized, and the euro suffered for it. A rate cut weighed the currency's return potential and refusal of new stimulus measures withheld the hope for stability that the markets have come so dependent upon. That said, let down for leveraged European support after the questionable EU Summit promises wouldn't generate the outright deleveraging effort that it was capable of. A surprise rate cut from the PBoC led to hesitation and speculation of coordination. Furthermore, the presence of NFPs on the upcoming docket discourages outright risk-positions...just in case

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