ForexLive Americas FX news wrap
Markets:
– WTI crude down $1.13 to $44.62
– S&P 500 down 8 points to 2162
– Gold up $16 to $1332
– US 10-year yields down 1.7 bps to 1.56%
There was plenty of speculation that Draghi would do something or hint at something regarding future actions or tweaks in the bond buying program but he said none of those things were discussed. As he started out, he repeatedly implored governments to implement structural reforms. That was taken as a sign (correct) that nothing was coming today and the euro rallied to a high of 1.1060 but after the spike up, there was no follow through and nothing really changed and the euro sank back to 1.1010. Later in the day it hit 1.0980 but finishes back virtually unchanged. In short, we didn’t learn anything new from Draghi and the market didn’t move.
