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EUR Surges on Hawkish ECB Minutes, USD Tumbles on Disappointing Data; US CPIs in Focus

The common currency enjoyed massive gains yesterday after the minutes of the latest ECB meeting revealed that policymakers could revisit their forward guidance and language on policy soon, while the US dollar suffered after the release of the PPI and initial jobless claims data.
ECB meeting minutes wake up EUR-bulls
The euro outperformed all the other G10 currencies yesterday after the release of the ECB minutes. The biggest losers were USD, AUD and CAD in that order.

The minutes of the latest ECB minutes were surprisingly hawkish, revealing that the forward guidance and the language around policy could be revisited in early 2018. Following remarks from several ECB officials that they see a chance for the QE program to end in September, the minutes bolstered further market expectations that something like that may actually take flesh as this was probably seen as a formal message. Remember that in the statements accompanying its latest meetings, even the December one, the Bank has noted that asset purchases will continue until September, or beyond if needed.

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Source : https://www.jfdbrokers.com/en/research-education/jfd-research/daily-market-report/6-daily-market-report/13487-eur-surges-on-hawkish-ecb-minutes-usd-tumbles-on-disappointing-data-us-cpis-in-focus.html

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