May 8th: American session
Tatiana Norkina, an analyst at FBS
Today the ECB kept interest rates at 0.25 %. This is generally consistent with the expectations of analysts. Therefore, the currency pair EUR/USD soared to new highs in the 1.3990 area. However, the subsequent statement of M.Dragi about the possibility of summer rate cuts collapsed the market. Moreover, the head of the ECB firmly stressed the undesirability of the strong euro. U.S. dollar began to strengthen against the euro. The pair is currently trading at 1.3850. Opposite situation occurred in the pair USD/CHF, the rate of which tested new lows of 0.8700, but recovered to the 0.8800 figure for now.
U.S. stock markets opened on the positive . So , DJIA continues yesterday's recovery, going up to 0.35 % today, and the S & P500 - more than 0.40 %.