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Hardy: Watch out for EURUSD aftershocks in wake of ECB earthquake

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December 04, 2015 currencies, currency, divergence, draghi, ecb, economy, eur, euro, european central bank, eurozone, eurusd, fed, forex, fx, hardy, hike, interest, interest rate, interest rates, jobs, jobs data, jobs growth, john, john hardy, levels, mario draghi, markets, monetary, monetary policy, nfps, non farm payrolls, nonfarmpayrolls, november 2015, policy, qe, rate, rate hike, rates, risk, risks, saxo bank, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo tv, saxo tv tradingfloor.com, saxobank.com, saxotradergo, trader, trading, trading risks, tradingfloor, tradingfloor.com, tradingfloor.com insights, us, us dollar, us economy, us fed, us federal reserve, usd
The ECB’s failure to deliver on promises of more extensive QE sent an earthquake through the markets. And there is a real risk of aftershocks if the US November jobs data disappoint, says Saxo Bank's John Hardy.

Hardy explains what impact of the ECB’s decision could have on EURUSD, which is very much driven by the divergence in policy between the European Central Bank and US Federal Reserve. He looks at the levels the pair could go to next as well as the risks traders need to be aware of at a time, when markets are relying heavily on central banks for guidance.