Analysts at ANZ explained that despite the ECB turning more hawkish on policy, markets interpreted the statement as dovish.
"The EUR depreciated against all G10, bolstering USD strength. European yields fell across the curve, while the US curve flattened further with 2-year yields flat and 10-year down 2.8bps at the time of writing. The ECB’s interest rate guidance gave European equities a shot in the arm, with Euro Stoxx up 1.4% and other major bourses up 0.8-1.7%. US stocks were more mixed on heavier volumes. The DJIA was down 0.1% and the S&P up 0.2%. The VIX fell to 12.2, down 7%. Oil prices were biased lower after Saudi Arabia’s oil minister said a gradual lift in OPEC output is “inevitable”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.