| | Have EURUSD and GBPUSD Confirmed Reversal ahead of NFPs? | As expected, the ECB and BoE rate decisions encouraged substantial volatility from Euro and pound-based pairs. Yet, also as expected, the follow through on outcomes that were largely priced in leaves us to question the conviction in follow through. Moving away from the yield/return side of the conversation (which has faded over the past six months); the market quick returns to risk and the fear of a global financial crisis. This shift plays nicely into the second round event risk in Friday's US non-farm payrolls. | Best regards, DailyFX Research Team research@dailyfx.com | | | Forex Capital Markets, L.L.C.® assumes no responsibility for errors, inaccuracies or omissions in these materials. Forex Capital Markets, L.L.C.® does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. Forex Capital Markets, L.L.C.® shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results. | | | |