Yesterday, investors were focusing on the meeting of the European Central Bank, which strongly affected the euro's position in relation to main currencies. The ECB kept the interest rate on the same level of 0.25%, but during the press conference, Mario Draghi hinted that it was possible that interest rates could lower next month.
This had an immediate effect on the euro. The EUR/USD dropped from its maximum level over the past 3.5 years of 1.3993, to the minimum of the week of 1,3848. This morning, the EUR/USD is trading on a level of 1.3826.
In the US data was presented on the primary requests for unemployment benefits, which appeared to be substantially better than expectated at 319,000, dropping from 345,000 last month. Analysts were expecting the number to be 325,000.
As a result, the Dow Jones Industrial Average index grew by 0.20% to 16550.97. The S&P 500 index lost 0.14% and reached 1875.63 points, while the Nasdaq Composite index decreased by 0.40%, to 4051.50 points.
Prices of commodities are stable and are moving, but without a significant change. Brent Oil and WTI are up 0.84% and 0.83% accordingly, trading at $108.39 and $100.36 per barrel. Gold is up 0.23% and is bargaining on a price of $1290.67 per troy ounce. Silver added 0.27%, and is trading at $19.19.
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Draghi's Comments Sends EUR/USD Down
Published 05/09/2014, 07:10 AM
Updated 03/09/2019, 08:30 AM
Draghi's Comments Sends EUR/USD Down
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