Not much in data except for US GDP and that came in weaker and the market hardly reacted to it.
In fact, the USD moved against the other majors right after Draghi’s speech at about 2:30pm Singapore time.
And the majors fell against the USD again at about 10pm, based on ‘nothing really’…………that’s strange.
All in all the majors lost about 80bps to 100bps against the USD. So we are now below the trading bar, we’re not at the bottom of the last Fibonacci yet and I do not believe it will get there as there isn’t anything drastic coming out from Europe.
The Panthenon Investment Group 