Forex: EUR/USD Strength Shaken by EZ GDP, USD/JPY and EUR/JPY Slip
Description The Euro's initial reaction to the deepening recession readings from 4Q GDP was abrupt but not immediately trend changing. However, the deeper implications of this troubling economic trend can tap into something that is of greater concern to EURUSD traders - the ECB's path of stimulus withdrawal and allowance for market rates to rise. Meanwhile, the Finance Ministers and Central Bank heads will begin their two-day meeting Friday and the focus returns to overextended yen crosses. Will this group call an end to this leg of the USDJPY's rally or will it fall to something more elemental - like risk trends. We discuss the trading implications of these two pressing themes and more in today's video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.