|Day's range||0.895 - 0.896|
|52-week range||0.8497 - 0.9108|
ECB president Mario Draghi has long been known as the king of the doves. And, as anyone trading the German DAX (GER30) or EUR crosses would attest, he directed a powerful rebuttal to the growing calls that the bank is out of ammunition to fight a future recession.
There have been arguments that traders have now pre-positioned portfolios, and happy to drift into the menagerie of central bank speakers this week.
Investing.com - The euro was holding steady on Monday after the results of European Union parliamentary elections showed that pro-EU parties held on to two-thirds of seats, limiting the gains of their euro skeptic opponents.
Data on Thursday showed that the labor market is gaining strength, even as the economy slows. Initial claims for unemployment benefits fell for the third-straight week to a seasonally adjusted 211,000, the Labor Department said.
Sterling slumped on Wednesday after reports that U.K. Prime Minister Theresa May could resign as soon as today amid Brexit chaos caused a sell-off of the pound. The U.S. is looking at similar restrictions on other companies, including Chinese video surveillance company Hikvision, according to Bloomberg and the New York Times.
The return of domestic political turmoil in the United Kingdom has led to a flurry of selling momentum for the British Pound, which fell over 300 pips during the previous trading week.
It was already a terrible trading week for the British Pound thanks to the political risk circus in Westminster and Brexit related uncertainty.
The Dollar Index (DXY) found comfort near a yearly high above 97.70 today, after a raft of strong US earnings in the previous session boosted confidence over the health of the US economy.
Investing.com - The economic calendar in the U.S. is busy this week, with updates due on the housing market, retail sales, industrial production and trade which will give investors fresh insights into the health of the broader economy.
Investing.com -- The euro was slightly higher against the dollar and pound in early trade in Europe on Friday, supported by signs of an economic rebound in China and reports of buying related to a big cross-border acquisition, while sterling continues to slip amid the prospect of more months of Brexit-related uncertainty.
Dovish Draghi strikes again! The Euro fell by some 0.5 percent against the US dollar before recovering some of its losses, after the European Central Bank stood pat on monetary policy on Wednesday.
Investing.com -- The euro edged higher against the dollar and was little changed against sterling in early trade in Europe on Wednesday, with two big diary events looming large over the market.
Investing.com -- The British pound is back at its highest levels in a week in early trading in Europe on Wednesday after signs of a possible breakthrough on Brexit
The refusal to leave the EU without a deal reinforced the GBP purchases against USD and EUR, but still, there are too much “but” and “if” ahead.
Investing.com -- The British pound is higher against the dollar and euro in early trading in Europe Wednesday, as the market leans on balance towards believing that Brexit will be softened, delayed or even cancelled.
This week, we see the long-awaited real, final vote on Brexit (maybe). There are three possible outcomes that we know of: PM May’s deal, no deal, or an extension of uncertain length.
Investing.com - The British pound fell by more than a cent against the dollar as the U.K. government's top lawyer effectively killed off any chance that the U.K.'s agreement on leaving the EU would pass a vote in parliament later Tuesday, reviving the specter of a disorderly 'no-deal' Brexit.
Investing.com - The pound rallied in early European hours on Tuesday after British Prime Minister Theresa May secured last-minute changes from the European Union for her Brexit deal before a crucial vote in parliament later in the day.