Posts Tagged "Central Bank Power"

ECB impact on GBPUSD

Posted by on Jul 27, 2012 in Commentary, Featured, Market News

ECB impact on GBPUSD

ECB Impact on GBPUSD On 20 June, I wrote about central bank power and the impact the ECB can have on the currency value. This was in evidence again this week on Thursday, when Mario Draghi, the head of the ECB, stated they would do “whatever it takes” to save the Euro. I have chosen to illustrate the impact of his speech on GBPUSD, rather than the Euro. The 4 hour candle on EURUSD was 199 pips in range. The candle length for Cable was  232 pips. In either case, very significant movements. One of the “excuses” for weak GDP figures in the UK has been the turmoil in...

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