November Low on Radar Following ECB Assembly

EUR/USD Charge Speaking Factors

EUR/USD stays beneath strain following the European Central Financial institution (ECB) rate of interest resolution, with the November low (1.0981) on the radar because the trade fee extends the collection of decrease highs and lows from the earlier week.

EUR/USD Charge Forecast: November Low on Radar Following ECB Assembly

EUR/USD extends the decline from earlier this month because the ECB sticks to the identical script and endorses a dovish ahead steerage at its first assembly for 2020.

The Euro got here beneath strain as President Christine Lagarde emphasised that the “Governing Council continues to face prepared to regulate all of its devices, as applicable, to make sure that inflation strikes in direction of its purpose in a sustained method,” and the ECB could develop its stability sheet all through 2020 because the dangers surrounding the Euro space “stay tilted to the draw back.”

It appears as if the ECB is in no rush to change the financial coverage outlook despite the fact that the US and France attain a commerce truce, and the Governing Council could proceed to depend on non-standard measures to help the economic system because the central financial institution struggles to attain its one and solely mandate for value stability.

In flip, the Euro could face headwinds forward of the following assembly on March 12 and EUR/USD could proceed to present again the rebound from the 2019 low (1.0885) because the correction…