Back
31 Jul 2014
Volatility returned, in the US session anyway - FXStreet
FXStreet (Guatemala) - Val Bednarik, Chief analyst at FXStreet explained that it was a day like not seen in long in the forex world, with the calendar fulfilled with data and majors actually moving more than 20 pips on it.
Key Quotes:
“First round of macro releases started with an in line with expected German inflation, a mild weak US ADP employment survey, and a strong US GDP reading, probably the most relevant event of the day. US economy shown an impressive 4.0% growth in the second quarter, compared to first one finally revised up to -2.1%”.
“The EUR/USD sunk to a fresh year low of 1.3367 on the news, where it held until FOMC: the US Central Bank surprised no one with a $10B taper and a tiny changed to the wording in its statement over employment situation concerns that resulted in a downward correction for the greenback across the board”.
Key Quotes:
“First round of macro releases started with an in line with expected German inflation, a mild weak US ADP employment survey, and a strong US GDP reading, probably the most relevant event of the day. US economy shown an impressive 4.0% growth in the second quarter, compared to first one finally revised up to -2.1%”.
“The EUR/USD sunk to a fresh year low of 1.3367 on the news, where it held until FOMC: the US Central Bank surprised no one with a $10B taper and a tiny changed to the wording in its statement over employment situation concerns that resulted in a downward correction for the greenback across the board”.