Video: Dollar Breaks Higher Ahead of NFPs, ECB Feeds EURUSD Tumble
• The ECB provides details on its QE program and the Euro drops across the board
• With NFPs ahead, the Dollar broke to an 11-year high and rallied against all the majors
We are holding an Open House.
Usually, the markets steady ahead of major event risk. This week, however, it seems the tension is so great and trends so well established that breakouts and trend extension don't require confirmation. The EURUSD's drop to an 11-year low prior to the ECB's details on its new QE program this past session was extended its tumble to 1.10 after the event. And, with the NFPs dead ahead, USDollar broke out of a five-week congestion pattern to extend its record-breaking bull run. Do the scenarios for this event risk all inevitably end in Dollar strength? We focus on the Euro, Dollar, risk trends and the New Zealand Dollar in today's Trading Video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.