The European Central Bank shocked the world and caused a global sell-off when it announced a smaller-than-expected stimulus package this week. The message from ECB President Mario Draghi sent the euro surging more than 3 percent against the dollar, seeing its best one-day gain in more than five years, a feat that left veteran trader and commodities king Dennis Gartman stunned.
"This is something more than a bounce," Gartman told CNBC's "Futures Now" on Thursday. "I've been trading for 40 years, and anytime you see a four euro move, you have to stand back in absolute awe and in the majesty of that move. It is stunning."
Gartman noted that magnitude of the move was caused by Draghi's hawkish tone. "The ECB caught everyone off guard" by not enhancing the amount of its monthly purchase, he said.