A healthy dose of volatility gripped markets as Draghi boosted the euro and yen crosses slumped. The Australian dollar was the top performer while the yen lagged. RBA Governor Stevens tried to jawbone down AUD in early Asia-Pacific trading to no avail. Last night's Premium trade in EURJPY, entering at 140.30 is up 280 pips. Our other yen cross trade is long USDJPY. Our longs in EURUSD, GBPUSD, AUDUSD, AUDCAD and AUDNZD are all in progress and up at least 50-70 pips. USDCAD is in the red. All these trades and charts are in the Premium Insights.
The moves on Thursday in the FX market were as large as any day this year. The action started with the best jobless claims data since November as the 323K beat expectations of 336K. The numbers boosted USD/JPY by 40 pips and above 103.00 for the first time since January.
Latest Hot-Chart - Jan 16
Commodity Currencies Look-Ahead
CAD – The loonie took an ugly turn to the worst in H2 of last year on a combination of persistent downward revisions from the Bank of Canada and the appointment of Stephen Poloz as new...