Euro drops sharply today as markets are not quite happy with ECB announcement. In particular, while deciding to end the asset purchase program this year, ECB said interest rate will remain at current level at least through 2019 summer. President Mario Draghi also sounds cautious as usual in the post-meeting press conference. Adding to that, 2018 GDP growth forecast was revised notably lower. Though, a positive point is that inflation projections are revised notably higher too. On the other hand, Dollar is lifted by stellar retail sales report and solid as usual jobless claims report. Sterling was lifted briefly earlier today by strong retail sales data. But the Pound was dragged down by Euro in early US session. Technically, EUR/USD's break of 1.1713 should now indicate completion of recent rebound from 1.1509. Retest of this low would be seen shortly. USD/CHF's rebound also put 0.9911 resistance into focus. Firm break of which will confirm completion of corrective pull back from 1.0056. |