State of the market : The ECB keeps interest rates - Ester Holdings

State of the market : The ECB keeps interest rates

The publication of the ECB’s decision on monetary policy had a multidirectional impact on the euro, which was caused by the lack of clear hints at the curtailment of the stimulus program in the euro area. So, the ECB council decided that it would keep the volume of redemption by 30 billion euros until September 2018. If inflation signals continue, it is expected that the volume of redemption will decrease by 15 billion euros per month.

This statement was disappointing for the euro, as investors expected a more rapid curtailment of the incentive program. As a result, the euro fell across the whole spectrum of the market, but it is worth noting that the market is still waiting for the press conference of the head of the ECB Draghi, which also has a significant impact on the market.

The pair EUR / USD completely lost all previously earned positions yesterday and trades near the support level 1.1750-30, thereby indicating the safety of the upward monthly trend and the expectation of statements from Draghi.

EUR / USD Graph. Current price – 1.1750

Read also: “Fundamental analysis: interest rate and its impact on the exchange rate”

Hanzenko Anton

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