Forex news for US trading on Oct 22, 2015:
– S&P 500 up 32 points to 2051
– Gold down $1 to $1165
– WTI crude up 31-cents to $45.51
– Italy 10-year yields down 15 bps to 1.45%
Draghi talked about increasing QE, cutting deposit rates further and put it all on the table for the December meeting. The result was dramatic as EUR/USD immediately fell about 80 pips to 1.1240 and the continued to grind lower throughout the day, falling as low as 1.1109, below the 200-dma but a shade above the Sept low of 1.1105. Those are the two short term levels to watch.
