US FX Handover: ECB Too Tentative for Euro Bears, NFP on Tap

Matt Weller
By :  ,  Head of Market Research

  • The ECB came off as “not dovish enough” for traders by extending its guidance for rates to remain on hold through Q1 2020, making the euro the strongest major currency on the day.
  • Headlines on US-Mexico immigration/tariff negotiations were hot and heavy today: The Trump Administration initially indicated that Mexico was not offering enough to avert tariffs, though the Washington Post reported late in the trading day that the two sides were considering a deal to boost immigration enforcement that may avert the tariffs.
  • The US dollar, along with the yen, were the weakest major currencies ahead of tomorrow’s NFP report.
  • Gold prices are testing their 2019 highs near $1340.

Related tags: Forex

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