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  • Last week’s march higher in EUR/USD may well extend further after Friday’s Eurozone economic statistics that will likely turn the ECB more hawkish on monetary policy. Get your weekly Euro forecast from @MartinSEssex here: https://t.co/EWrJy5LfOF https://t.co/NQj5xCdw9b
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  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/sPcCTQfaRd
  • The US Dollar slipped last week after the Federal Reserve calmed taper timeline talks. Friday’s non-farm payrolls figure may rekindle upside USD bets if it impressive. Get your weekly USD forecast from @FxWestwater here: https://t.co/4KDanAA0Q1 https://t.co/ZZWpIZlZBo
Video: ECB Move Drives EURUSD to 11-Year Low, EURJPY On the Edge

Video: ECB Move Drives EURUSD to 11-Year Low, EURJPY On the Edge

John Kicklighter, Chief Strategist

Talking Points:

• An ECB QE program that worth over €1.1 trillion was enough to send the Euro reeling and equities rallying

• Though the efficacy of monetary policy is coming under greater scrutiny, the FX market follows the trend

• Between the ECB reaction, FOMC next week and questionable risk view; EURUSD and EURJPY lead the way

Want to develop a more in-depth knowledge on the market and strategies? Check out the DailyFX Trading Guides we have produced on a range of topics.

The monetary policy ranks provided the markets another large injection with the news that the ECB was following its largest counterparts down the path of QE. The response for the Euro was decisive as EURUSD marked its worst daily tumble in over three years on the way to the lowest exchange rate since 2003. This pair will be particularly important to monitor moving forward as we gauge the net influence of stimulus as well as its relative effectiveness. With EURUSD, we now pair the most accommodative central bank (ECB) pitted against the most hawkish (Fed). Will the European authority be effective - even through the upcoming Greek election? Will the FOMC maintain its drive towards a mid-2015 hike next week? Meanwhile, the net impact of global stimulus on speculator interest may be better reflected in a pair like EURJPY. With new stimulus upgrade and a high-level sensitivity to risk trends, a 135 break can signal a broader tide change. We talk big themes, upcoming event risk and well-placed currency pairs in today's Trade Video.

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