The ECB maintains its accommodative stance, which delivered few surprises. The press conference could be an altogether different proposition, however.
It’s been a quiet start to the day on the Eurozone economic calendar. There were no material stats to provide the EUR with direction ahead of today’s monetary policy decision.
This afternoon, the ECB stood pat on monetary policy, leaving the marginal lending facility and deposit facility unchanged.
Today’s decision was in line with market expectations.
According to the monetary policy statement,
Ahead of the ECB policy decision, the EUR had risen from a pre-release low and current day low $1.20221 to a pre-release high and current day high $1.20591.
In response to the ECB Monetary Policy Statement, the EUR rose to a post-release high $1.20571 before falling to a low $1.20424
At the time of writing, the EUR was up by 0.11% to $1.20479.
The ECB press conference, U.S initial jobless claims and, late in the session, flash Eurozone consumer confidence figures.
Expect the press conference to be key…
With over 28 years of experience in the financial industry, Bob has worked with various global rating agencies and multinational banks. Currently he is covering currencies, commodities, alternative asset classes and global equities, focusing mostly on European and Asian markets.