With all the anticipation of the ECB Meeting, the ECB left its key Interest Rates unchanged and maintains that they will bolster its Bond-Buying program if the EuroZone’s economic condition worsens. BoJ however, pushed back their Inflation Target, raising hopes for extended monetary stimulus.
All major Indices hit all time highs by close of Wednesday Wall Street Session. Investors raked in gains during the Tokyo Session Thursday. Though UK Retail Sales came in better-than-expected, Sterling under-performed during the London Session, while Euro traded mixed with some selling pressure as soon as the ECB Meeting news was released.
Within the Forex Trading Market, one of the currency pairs under our observation in the past 72 hours has been GBPJPY. We anticipated a bounce-off and reversal pattern, which panned out as today’s events became conclusive, namely the Bank of Japan Meeting and the ECB Meeting.