The euro is recovering. Details of the ECB press conference

As expected, at the April meeting, the ECB kept the discount rate at 0.0%, interest rates on deposits remain at -0.40, against which the single currency weakened in anticipation of the ECB press conference.

At the moment, the euro has regained all previously lost positions and maintains a positive attitude against the backdrop of comments by ECB head Mario Draghi:

• – it is expected that economic growth will remain confident and large-scale
• – the growth of the world economy supports the export of the eurozone
• – core inflation will grow gradually in the medium term
• – accelerating the growth of wages will support the growth of inflation

In turn, market participants have not heard any hints of a reduction in stimulation of the economy, which restrains the further growth of the single currency.

Technical analysis: The pair EUR/USD keeps a downward trend in the short term. The main support levels are 1.2145, 1.2085. The resistance levels are 1,2245, 1,2300.

Fig. EUR/USD. The current price is $ 1,2202.

Alexander Sivtsov