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Forex Strategy Video: A Look at Euro, Pound Pairs after ECB, BoE Decisions

Forex Strategy Video: A Look at Euro, Pound Pairs after ECB, BoE Decisions

2014-01-09 22:55:00
John Kicklighter, Chief Strategist
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Talking Points:

• Both the ECB and BoE held their respective monetary policy stance Thursday

Pound traders expected no change, but there was risk premium with the Euro had the ECB altered policy

• For EURUSD and GBPUSD, the pairs are now fully expected to Friday's US NFPs and Taper speculation

Sign up for DailyFX-Plusto watch David Rodriguez's Live coverage of the US NFPs release, educational webinars, updated speculative positioning measures, trading signals and much more!

Fears that the ECB will soon ramp up stimulus and rate expectations for the BoE are over-wrought cooled Thursday after each central bank held their respective line. That hold - and the commentary that accompanied the ECB decision - alters the fundamental sensitivities for Euro and pound pairs significantly. For EURUSD and GBPUSD, the lack of a speculative counterbalance reduces the buffer to greater volatility from the dollar on Fed changes. We look at these majors and other Euro and pound crosses in the context of the European policy outlook in today's Strategy Video.

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