Officials not Macro Economics Driving FX | Zero Hedge
This month the main drivers of the foreign exchange market have been official developments rather than macro-economic factors that often shape investors’ decisions.In addition to Russia/Ukraine and China developments, it was the ECB’s failure to take more measures to address the tightening of financial conditions, and falling inflation, that finally managed to convincingly push the euro above the $1.38 area that had capped it since last October.It was also comments by Draghi on March 13 that have thus far put the euro’s high in just below $1.3970. This past week, it was a seemingly more hawkish Federal Reserve than expected, with the help of new Chair stripping the veneer of the traditional strategic ambiguity of language (“considerable period = around six months), that was …
Weekly outlook for the major currencies, from a technical perspective.
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Officials not Macro Economics Driving FX | Zero Hedge
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