The headlines continue and the eyes are on the EURUSD mainly. The USDJPY moved lower in sympathy, but is now back up pushing the 120.00 level (it squeezed above it as stops were triggered – back below it now) . The GBPUSD moved to new session highs but is back down.
The EURUSD is all over the place.
The EURUSD has it’s own volatility – now moving back down below the midpoint of the days trading range and tested the 1.2329 low again.
Volatility is increased and confusion from the comments are also increasing a bit. Did the change in stance on 1T turn because of issues within the mandate of what they ECB can do. Constancio was quoted as saying “ECB hs clear policy on eligibility of assets” Does that mean they cannot buy sovereign debt?
To add more confusion to trading, I am somewhat amused by the quote by Draghi now that the ECB “discussed buying all assets except Gold”. A few headlines later “Gold drops in London after ECB’s Draghi’s comments on Gold” I don’t think he has ever mentioned Gold. Usually, gold will react to the movement of the dollar, but this time, they got their own mention.
I have a car to sell. I wonder if the ECB would be interested in buying it? Maybe I should raise the price. ; )
ECB to buy all assets except Gold