It's been a wild ride, and if you were watching EUR/USD, you'd have noticed it was all over the place today. But the real story's with the Pound - it's up against the Dollar, which was pretty wild considering the GBPUSD started the session on the back foot. According to ForexLive, it was drifting lower in Asian-Pacific trading, but then something shifted. FXStreet Forex pointed out that the Pound Sterling appreciates sharply against the US Dollar after US President Donald Trump postponed further military action against Iran.
It's been a wild ride for the Aussie lately, but today it took a bit of a breather, trading lower around 0.7040. Which was pretty wild, considering the supportive domestic factors in Australia. But you'd have noticed that the return of safe-haven demand put some pressure on the pair. If you were watching AUD/USD, you'd have seen it pull back from the session highs of about 0.7108 to trade at about 0.7074. And honestly, it wasn't a huge surprise, given the modest rebound in the US Dollar.
It's been a wild ride today, with the ECB press conference and interest rate decision dominating the headlines. If you were watching EUR/USD, you'd have noticed it didn't really move much, closing at 0.8682, which was pretty surprising given the high-impact events. And honestly, the lack of movement in EUR/USD was kind of the story of the day, with the British Pound / US Dollar also ending up flat at 1.3360. But what was really interesting was the USDCAD, which pushed higher into the European session, breaking above last Friday's high and testing the early March peak near 1.3752.
The US Dollar was pretty much flat against most major currencies, which was pretty wild considering the FOMC Economic Projections and Fed Interest Rate Decision were just around the corner. If you were watching EUR/USD, you'd have noticed it recovered part of its earlier decline on Wednesday as the US Dollar eased slightly from daily highs. According to FXStreet, the Euro got some modest support ahead of the Federal Reserve's interest rate decision.
It's been a pretty quiet day in the forex market, with most major pairs stuck in a tight range. If you were watching EUR/USD, you'd have noticed it's still pushing to the upside, with the pair now stretching toward an important technical ceiling defined by the 200-hour moving average at 1.15499. Which was pretty wild, considering the lack of major economic news. And honestly, it's surprising we didn't see more movement, given the ZEW Economic Sentiment Index and Producer Price Index releases. But I guess that's just the way it goes sometimes.
The Fed stayed dovish, which was pretty wild, considering the recent hawkish tone from some of the members. It didn't take long for the market to react, with the US Dollar gaining ground against most major currencies. If you were watching EUR/USD, you'd have noticed it was stuck in a tight range, closing at 1.1502, basically unchanged.
