11 March 2014 ~ 09:45 London Time ~ ECB Constancio makes a statement

Gods. It has been a nightmare trying to produce a reasonably sized (in MB) 3 minute video, but finally I’m more or less content. Note: A time delay of several seconds exists at the start of the video before Youtube finally kicks in with HD, which is necessary if you actually want to see clearly the numbers!

There wasn’t a great amount of key news to review today, and no scheduled data to get excited about either. Some markets did nevertheless put in considerable moves, namely the energy markets, and after the US opening bell, the S&P 500 too, but there was only one small item worthy of a slot on the highlight show tonight I feel (see below). I’d call it a 2/10 on the Hindsight-Impact scale…

ECB Constancio says a few words, suggesting that markets did not fully digest the ECB’s most recent statement, and that further central bank action is not off the table entirely.
I was somewhat surprised by the lack of follow-through on the downside on 6E. After several minutes the market settles and drifts back to a more central trading range.
No doubt some of the slower (human) traders lost a few ticks as they fully expected the market to drop a good bit further.

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