Speaking on Oil/OPEC He adds: The price of crude oil is trading at $66.89 up $.26 or 0.4%. The high reach $67.16. The low extended to $66.51. The headlines have sent the price down over the last few minutes of trading.
Decent gains for the major indices at the start The major US indices are opening with decent gains. Better retail sales are increasing confidence for solid GDP growth.
Continuing claims 1697K vs. 1732K
Latest data released by the Census Bureau – 14 June 2018 Positive beats across all readings, a strong report and that should give the dollar some relief on the day. Positive revisions as well and the dollar has moved higher on the back of the report.
According to sources US retail sales, unemployment claims and Draghi up next. The GBPUSD has moved below the 100 and 200 hour MA now.
As per BBC political editor
Will he disappoint euro bulls again? I’ve had my say earlier and even after the statement, I still expect dovish tones out of Draghi. The economic projections are expected to be upbeat but as I said earlier any QE announcement will come with caveats/conditions and this one says it will depend on “incoming data”.
Market still caught off guard in the EUR All of this anticipation into the ECB decision and the market was still caught off guard by the central bank. The big question heading into the decision was whether or not there would be a formal announcement on the end of QE. But the answer to this…
Will Draghi and the ECB close the tap on QE today? That is the ultimate question, isn’t it? But is that the most important one? That remains up for debate even as we approach the final minutes before the meeting. Regardless, if the announcement to end QE won’t come today, it will come in July.…
Draghi and a lower EUR is sending bond yields lower but stocks higher The comments from Draghi has helped to send the EUR lower, yields lower in Europe and Europe shares higher: