The German Constitutional Court is reportedly rejecting a split trial on the ECB’s QE program. The reason is that it becomes unmanageable. The details of the article have not been obtained, but the euro has dropped further due to this headline report.
USD is strong today due to rumors that dollar/yen purchases from GPIF (Independent Administrative Institution for Pension Funds Management) are coming in.
EURUSD is easy to sell especially when combined with the issue of the Constitutional Court, but the entry is postponed because the option of 1.1200 is worrisome.
Currently, the power balance in 15 minutes is
USD = NZD ＞ GBP ＞ AUD = CHF = CAD ＞ JPY ＞ EUR
