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EUR Tumbles on Dovish ECB, US NFPs in the Limelight

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The euro tumbled yesterday after the ECB decided to push back its interest-rate guidance, officially announced a new round of TLTROs, and slashed its economic projections, keeping its growth risk assessment to the downside. As for today, investors may lock their gaze on the US employment data for February. Expectations are for a strong report, which could encourage market participants to place some bets with regards to a Fed hike this year.

ECB Pushes Guidance Back, Announces New TLTROs

The euro traded lower against all but two of the other G10 currencies on Thursday. It underperformed the most against JPY, USD and CAD in that order, while it managed to eke out some gains only against SEK and NOK.

Yesterday, it was all about the ECB. The European Central Bank decided to keep all three of its interest rates unchanged as was broadly expected but proceeded with some bold changes within the...

Read the full financial markets daily report on JFD Research.

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Source: https://www.jfdbrokers.com/en/research/eur-tumbles-on-dovish-ecb-us-nfps-in-the-limelight
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