US FX Handover – 10 April 2019
Matt Weller, CFA, CMT April 10, 2019 4:06 PM
See a summary of the top FX themes and trends from today's US session!
- ECB President Mario Draghi emphasizes that the central bank is “ready to use all instruments… ALL instruments.” EUR/USD quickly dumped 50 pips on this before recovering back to trade higher on the day again.
- The minutes from the March Fed meeting showed that the majority of Fed policymakers see rates on hold through 2019. Despite this headline and a decent CPI report, the US dollar was among the weakest major currencies today, along the Swiss franc.
- The European Union is still deliberating an extension to Brexit, with most analysts expecting a 6-12 delay with the UK given the option to leave earlier if a deal is reached.
- The Australian dollar was today’s strongest major currency after less-dovish-than-anticipated comments from RBA Deputy Governor Debelle.
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