The ECB Head's Comments Caused a Significant Demand for the Euro

Yesterday, the attention was focused on the ECB meeting. The regulator, as expected, left the monetary policy at the same level: deposit rate – -0.40%; The interest rate – 0.00%. At the same time, the chairman of the Central Bank M., Draghi said that in the autumn the issue of reducing the volume of stimulating the economy could be raised. The participants of the financial markets rated M. Draghi's rhetoric to be quite strident, which caused a sharp demand for a single currency. Trading was closed with the growth of the EUR/USD quotes by more than 125 points.

The US currency remains under pressure due to the release of weak statistics. In June, the index of manufacturing activity from the Federal Reserve Bank of Philadelphia fell to 19.5. Market expectations were at the level of 24.0.

Today the important statistics on the economy of Canada will be released. At 15:30 (GMT+3:00) reports on inflation and retail sales in the country will be published.

Market Indicators

The main US stock indexes continue to test historical highs. Yesterday #SPY (SPDR S&P 500 ETF) closed at 247.10 USD (+0.04%).

Since the beginning of this week, the 10-year US government bonds yield demonstrates negative dynamics. At the moment the indicator is at the level of 2.25%.

The dollar index (#DX) finished the trading session in the negative zone (-0.54%).

News background on 2017.07.21:

The attention is focused on the reports on inflation and retail sales in Canada at 15:30 (GMT+3:00).

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.