ECB Speaking Factors
- Financial Coverage Instruments Unchanged
- EUR/USD Unmoved
EURUSD Sees Muted Response to Newest ECB Resolution, as Anticipated
The Euro sees a muted response following the ECB financial coverage resolution by which the central financial institution left coverage instruments unchanged as unanimously anticipated amongst economists. With QE2 set to begin from November 1st at a month-to-month tempo of EUR 20bln/month, the ECB reiterated that it expects asset purchases to run so long as obligatory to bolster the accommodative impression of its coverage charges and to finish shortly earlier than elevating charges.
Deposit Fee -0.50% (Exp. -0.50%)
Foremost Refinancing Fee 0.00% (Exp. 0.00%)
Marginal Lending Fee 0.25% (Exp. 0.25%)
EURUSD PRICE CHART: Each day Time Body (Dec 2018 – Oct 2019)
For a more in-depth analysis on EUR, check out the Q4 Forecast for EUR
— Written by Justin McQueen, Market Analyst
To contact Justin, e mail him at Justin.mcqueen@ig.com
Observe Justin on Twitter @JMcQueenFX