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ECB leaves rates unchanged – on to Draghi

No  surprises from the ECB.

Draghi sends EUR/USD down on weaker outlook

 

EUR/USD unchanged

The European Central Bank was expected to leave the main lending rate at 0.05% and the deposit rate at -0.20%. It had already stated in the past that rates have  “reached their lower bound”.

The focus remains  on the QE program: will the ECB  enlarge the program? Extend it? Or hint about it? These are questions we  will get answers to at the  press conference held by Mario Draghi at 12:30 GMT. Join us for a live coverage here.

EUR/USD traded around 1.1225 towards the rate decision,  in the lower  area of the last few days’ range.

Some kind of hint is already priced in. It will still cause volatility but the focus will shift to tomorrow’s big event: the NFP.

However, there  are more options. ECB Preivew: Draghi to join currency wars? 4 scenarios

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.