In its latest statement today, ECB said that it will continue “with a moderately lower pace of net asset purchases” under PEPP, after two quarters of acceleration. At the same time, its volume (€1.85 trillion), as well as key interest rates, remained unchanged.
Key European stock indices are strengthening after the press release as the ECB promised a flexible approach to the volume of monthly purchases based on market conditions. For the markets, this means a stabilisation mechanism in case of deteriorating financial conditions.
The single currency, however, also strengthened gains, rewriting intraday highs at $1.1840. In the EURUSD, the tug of war continues at levels just above the 50-day moving average near 1.1800. The same is true for the DXY dollar index as well as GBPUSD, where bull and bear forces are balanced near key levels. A strong move from current levels could form the basis for a trend right up to the end of the year.
The FxPro Analyst Team
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…
The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…
The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…
- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
This website uses cookies