CarlosR
Member
Cash: $ 4.05
Posts: 18
Joined: 30 Nov 2017
Location: EEUU
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| Euro Falls On Draghi’s Promise |
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As stipulated in today the president of the ECB speaks about interest rate. ECB keeps interest rates, QE parameters and forward guidance unchanged, reiterating the intention to keep rates at this level at least until summer 2019. During the press conference, the ECB president noted the “steady and wide” economic growth of the euro area region and pointed out that the inflation would gain momentum by the end of the year. The acceleration of the inflation and the promise to keep rates unchanged reduces the real (minus inflation) return on investment to European assets. Such softness of the ECB’s position caused a new wave of pressure on the common currency.
The EUR/USD pair lost 0.6% after the press conference had started, falling to 1.1670 – the area of this week lows.
The euro loses its position against the U.S. dollar and the Swiss franc, despite a number of weak statistics from the United States.
The durable goods orders, foreign trade deficits, and weekly unemployment claims were worse than expected but were not able to reverse the negative reaction to the comments of the ECB.
The EUR/USD pair lost 0.6% after the press conference had started, falling to 1.1670 – the area of this week lows.
The euro loses its position against the U.S. dollar and the Swiss franc, despite a number of weak statistics from the United States.
The durable goods orders, foreign trade deficits, and weekly unemployment claims were worse than expected but were not able to reverse the negative reaction to the comments of the ECB.
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