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Forex Market Review (European Session) – Euro hurt by Draghi; Trump-Xi meeting in focus

Today's press

  • The main data point in today’s European session trading pertained to US weekly jobless claims. Those came in better than expected but failed to provide an additional boost to an otherwise stronger dollar on the day. Beyond economic releases, the Trump-Xi meeting looms ahead, while the euro was negatively affected by some dovish-perceived comments by the head of the European Central Bank.

  • The International Monetary Fund has said Nigeria’s economy needs urgent reform. In a report published on Wednesday, it highlighted the risks to growth for the recession-hit country and the dangers of a volatile foreign exchange market.

  • The Czech Republic's central bank says it has decided to stop intervening in foreign exchange markets to limit the rise in the national currency, the koruna, against the euro.

  • Global stocks traded in narrow ranges Thursday, as investors nervously awaited the first meeting between President Donald Trump and his Chinese counterpart, Xi Jinping, a day after minutes to the last meeting of the U.S. Federal Reserve showed policymakers discussing how to unwind crisis-era policy measures.

  • Poland is taking some pro-active measures to limit access to the market for unauthorized forex brokers. The Chairman of the Polish Financial Supervision Commission Marek Chrzanowski, shared with the ministry of finance a draft of the Act on Financial Market Supervision, which was prepared by the Polish Financial Supervision Authority.

Next trading day's important events

Forex quotes:

  • USDJPY: 110.96
  • EURUSD: 1.0652

Indices:

  • S&P 500: 2360.78
  • NASDAQ: 5884.63

 



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