OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD bounces from below 1.2400

FXStreet (Córdoba) - EUR/USD fell sharply and hit a fresh cycle low weighed by ECB Draghi comments on monetary policy.

EUR/USD briefly dipped below the 1.2400 and hit its lowest level in 26 months at 1.2395 before finding support and bouncing back to the 1.2450 zone. It seems investors are not willing to push the pair much lower ahead of the US nonfarm payrolls tomorrow and EUR/USD might enjoy a phase of consolidation and take a breather over the next sessions.

With the recovery attempt being capped by 1.2447, EUR/USD is currently trading at 1.2430, recording a 0.44% loss on the day.

Draghi weighs on euro

The euro weakened after Draghi reiterated commitment to expand the ECB balance sheet to the size it has at the beginning of 2012. He also said the Governing Council remains unanimously committed to further easing measures if needed and downplayed disagreement among members.

Hungary Budget Balance rose from previous 14.2B to 35B in October

Read more Previous

UK: NIESR GDP Estimate up 0.7% in October

The National Institute of Economic and Social Research published an estimate of UK growth over the last 3 months showing a 0.7% increase in October, after a 0.7% rise in September.
Read more Next
Start livechat