Namely, the whole world changes the money supply by announcing monetary stimulus and government expense increases. In other words, the central banks are creating more money and giving it to governments to stop the effects of the coronavirus. In effect, each announcement causes a fall of the currency that it affects.
However, take a look at the last reactions to various events in March. Even already ignored events like Producers Price Index and Consumer Price Index caused notable reactions above 20 pips. Previously, the release of these data sets did not cause an increase of exchange rate volatility.
The reactions on the tables are measured in pips by comparing the difference in the exchange rate five minutes before the event and five minutes after the event.
Tuesday, 4:30 GMT
© Dukascopy Bank SA
Thursday, 8:30 GMT
© Dukascopy Bank SA
Thursday, 12:30 GMT
© Dukascopy Bank SA
© Dukascopy Bank SA
© Dukascopy Bank SA
© Dukascopy Bank SA
Friday, 12:30 GMT
© Dukascopy Bank SA
© Dukascopy Bank SA