EUR/USD Euro/Dollar One-Minute Chart

The BOE and ECB central bankers pump equity markets higher on dovish talk as the U.S. enjoyed the July 4th Independence Day holiday. BOE's Carney, with his first policy statement, hinted at further easing coming in August. Both central bankers left rates unchanged but their comments were very QE and low-rate friendly. The magic words are "rates will stay low for an extended period of time." The pound and euro immediately weakened as the race to debase by all nations continues. The green rectangle shows the dramatic drop in the euro on Draghi's comments.  The global economy may be headed south but the central bankers rule the markets and control the direction of equities. U.S. futures jumped on the news.

Interestingly, for many months, the euro and equities moved in the same direction. If the euro dropped, the higher dollar would hurts commodities and the broad indexes. The asset relationships, however, remain in flux these days, twisted in knots due to the central banker intervention in markets. Euro is currently printing 1.2874. Price tries to maintain a sideways range through 1.288-1.292 the last few hours but now may be slipping again. This information is for educational and entertainment purposes only.  Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.