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[QUOTE="limyeeshin, post: 100673, member: 35099"] [B][U][SIZE=5][COLOR=#0000ff]Thursday 21 April 2016[/COLOR][/SIZE][/U][/B] [B][U][COLOR=#ff0000]Euro falls sharply ahead of ECB meeting[/COLOR][/U][/B] The euro plunged against the U.S. dollar on Wednesday, cutting off from three-day winnings as crude oil futures jumped to fresh five year highs on Wednesday and boosted the dollar. The European Central Bank President Mario Draghi indicated market friendly stances ahead of Thursday’s monetary policy meeting, weakened the euro. Previous month, the euro rallied substantially after Draghi said there might not be further rate cuts if the recent stimulus worked well. The ECB is broadly expected to keep the rates unchanged at the record lows. EUR/USD fell 0.54% on Wednesday’s session, closed at 1.1298. EUR/JPY traded just above 124.00. [B][U][COLOR=#ff0000]U.S. dollar surges with soaring in oil prices[/COLOR][/U][/B] The greenback gained in line with rise in oil prices on Wednesday, and rose markedly in afternoon trading. The U.S. Energy Information Administration (EIA) reported that the U.S. commercial crude oil inventories increased by 2.1 million barrels for the week, below 2.4 million seen and compared to 6.6 million barrels previously. Consequently, concerns on overstock are eased and WTI crude surged more than 3%, surpassing $44 per barrel. Both WTI and Brent crude futures hit highest level since November. A separate report from National Association of Retailers said existing home sales rose by 5.1% to 5.33 million unit sales, compared to 5.07 units in previous month. The U.S. dollar rose 0.50% against other major currencies at 94.54. USD/JPY traded steady at 109.84. [B][U][COLOR=#ff0000]Yen holds steady and commodity currencies rise[/COLOR][/U][/B] Japanese yen held steady in Asia despite weaker corporate loan demand report by Bank of Japan. Bank of Japan has its meeting on 28th of April and it is widely expected that BOJ members to talk on further easing as concerns on strength of the yen. Commodity linked currencies generally held higher following improvement in Chinese economic reports, giving hopes on outlook for raw material demand. AUD/USD traded at 0.7809, rising 0.10%. Canadian dollar also rose 0.07%, traded at 1.2647. [B][U][COLOR=#ff0000]Major pairs (Thursday update)[/COLOR][/U][/B] [FONT=Arial]USD/JPY ↓0.03% 109.81 EUR/USD ↓0.04% 1.1291 USD/CAD ↓0.09% 1.2645 GBP/USD ↑0.03% 1.4338 USD/CHF ↓0.09% 0.9717 AUD/USD ↑0.19% 0.7810 NZD/USD ↓0.04% 0.6973[/FONT] [/QUOTE]
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