ECB leaves rates unchanged – all eyes on Draghi

As expected. EUR/USD slips a bit lower, extending its drops and heading to 1.1485. Support awaits at 1.1145 and 1.13. Resistance is at 1.1580.

The main lending rate was left at 0% and the deposit rate at -0.40%. The QE program is at 60 billion euros a month and the big question remains about its future beyond the current end-date at the end of the year.

Any kind of tapering or reduction will help the euro. Interest rates will likely rise only in 2019 or 2020.

The press conference commences at 12:30 GMT. Stay tuned.

Is a dovish Draghi already priced in?[1]


Here is the chart showing the recent drag:

Get the 5 most predictable currency pairs[2]

from Forex Crunch

from Online Forex Trading Resource
View thesource article here


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s