Today’s Important Indicators

Today is the European Central Bank meeting day, followed by Draghi’s press conference. There will also be the Core Durable goods orders out of the US.

Today’s Forecast for Important Trading Indicators

Market Movers

• Canadian dollar gets attention during the Asian Session!
• Trump announced his decision to not abandon NAFTA but instead to renegotiate with Canada and Mexico, this caused the USDCAD to fall from 1.3640 down to 1.3529. That’s when the buyers came back in and helped stabilise the price. It will take a while for the precise details of the new deal to emerge over the coming months.
• AUD and NZD benefited from the NAFTA news as well, however not to the same extent.
• EUR/USD popped a few points but was soon little changed again.
• USD/CHF, little changed too while cable managed to track a few pips higher.
• Most Traders waited for Bank of Japan policy announcement. The monetary policy statement and the quarterly outlook report both hit expectations:

1. No change to monetary policy.
2. An upgrade to the economic outlook.
3. A downgrade (its gonna take longer) to the inflation outlook.

• JPY barely moved in response, and other currencies little changed also.

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