FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet noted that it was the Central Banks led the way this Thursday, resulting in a continued decline in the greenback towards fresh weekly lows against most of its rivals.
Key Quotes:
“During the European session, the ECB Account of the monetary policy meeting offered a generally dovish tone, with the European Central Bank seeing the downward risk for inflation increasing, and reasserting the full implementation of QE until September 2016 or beyond.
Officers were also concerned over the slowdown in emerging markets weighing in global growth, whilst they reckon that the local recovery has been weaker than previously expected.
The EUR/USD pair retreated from its session high around 1.1314, and fell down to 1.1237, from where it slowly recovered ahead of the FOMC Minutes. The US Central bank said that many members see that the conditions for a liftoff can be met this year, and pledged for a hike before the year end.
They also expressed their concerns about low inflation levels, and the economic slowdown in emerging markets. The meeting was held before the latest awful payroll, and market is understanding that the latest developments will keep the FED on hold.”
(Market News Provided by FXstreet)