Bad data on the retail sales in the UK and the speech of the President on BoJ led to movement of the stock and financial market, before the ECB meeting today.
The bad data form the UK retail sales had a negative effect on risk appetite. Koruda's statement that he sees no need for "Helicopter money" also had a negative effect on the market, especially the yen, which rose quickly to support levels, which gave us good positions for new sell of JPY. Therefore, we remain long on USD/JPY, EUR/JPY and AUD/JPY.
Indexes also made a correction at levels of support which also gave us a signal for short-term long.
Now the focus is on ECB at 14:45 and the speech of Mario Draghi at 15:30.
Expected volatility in EUR. No stimulus expected but we will observe what the comments on Brexit will be. What are the risk, how big are they and how to counter them ?
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