In an unexpected move, the Swiss National Bank removed the 1.2 cap off of the EUR/CHF , rocketing the Pair below 1.0, and spiraling the entire market into a rollercoaster.
The EUR/USD dropped sharply to new 12 year lows, breaching below 1.17, and clearing 1.16 as well, before correcting slightly towards 1.162 levels.
Wall-Street had a red day, as soft Macro data was released, indicating a rise in first time unemployment claims. The Dow (-0.61%), S&P (-0.92%) and the NASDAQ (-1.48%) all descended notably.
Oil prices continued to be highly volatile as well, dipping over 50$ before crashing back towards 47.5
Key Market data today:
07:00 – EUR: German CPI
10:00 – EUR: CPI
13:30 – USD: Core CPI
14:15 – USD: Industrial Production
All the information mentioned above is for reference only. The FX team will keep an eye on the market and set up the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please pay more attention to us.