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Just words from Draghi not enough - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet in respect of the US shift explained that amongst majors, yen was the only really active this Wednesday, and that’s because US indexes sunk.

Key Quotes:

“…With no clear catalyst behind it, all three major indexes are down over 1% on the day, with DJIA having lost over 200 points, and the S&P getting dangerously close to 1900”.

“But for the rest of the currencies it was an uneventful day, with traders waiting for upcoming ECB and NFP in these last days of the week”.

“The EUR/USD has traded within 60 pips ahead of early Thursday ECB’s outcome of the latest economic policy decision”.

“At this point, market is waiting for Mr. Draghi to backup its latest wording by launching more heavy armory to save Europe from deflation: just words, this time won’t be enough. So if he goes for a wait and see stance, the downward movement can resume strongly”.

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