Over 40 years’ heritage
185,800 clients worldwide
Over 15,000 markets

Euro dropped sharply on ECB rate cut decision

Four key markets in focus today.

EUR/USD

After a sharp drop on the ECB’s rate cut decision, EUR/USD has recovered to 1.342. With non-farm payrolls on the way, there is potential for further USD strength. As a result, traders could look at selling the pair into strength, particularly on moves into 1.35.

USD/JPY

There were some violent moves in USD/JPY on the back of the GDP reading. Traders could look at buying dips in anticipation of a potential move back to the 99 region.

Japan 225

The Nikkei is set to underperform the region today given the sharp drop in USD/JPY. We are calling it down 1.9% and just below 14,000 with weekly fund flows data in focus. Should we see a recovery in USD/JPY heading into NFP data, the Nikkei could also be in for a recovery.

Macquarie Group (MQG)

There was a big move higher in the stock yesterday with a strong uptrend still intact. While the stock is likely to dip at the open today, traders could eye moves into $50 for fresh buying opportunities.

The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.