The two main central banks on the Old Continent announced their respective key rate decisions this morning, with the Bank of England going first at 7 a.m. (Eastern) and keeping its rate unchanged at 0.5% while maintaining its bond holding program at 375 billion pounds. The pound dipped slightly against its peers on the news. Meanwhile across the English Channel, the European Central Bank (ECB) also stayed the course, with its bellwether rate remaining at 0.05%. Once again, markets expect that Mario Draghi will focus on an imminent market intervention by the ECB in his speech at 8:30. The euro is just barely in the green as we go to press.
The main news this morning should be U.S. Initial Jobless Claims for the past week. Markets do not anticipate any drastic change, with a reading of 285,000. Today could even be relatively calm as we await Canadian and U.S. jobs figures tomorrow morning. Have a great day!
• Range of the day: 1.1370 - 1.1470
• Range of the next 5 days: 1.1170 – 1.1535
