ECB leaves all rates unchanged – EUR/USD choppy
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ECB leaves all rates unchanged – EUR/USD choppy

The ECB left all the rates unchanged, as expected by most analysts. The European Central Bank was expected to leave the main lending rate unchanged at 0.25% and the deposit rate at 0% once again. However, there wasn’t a 100% consensus this time, and markets held their breath before the publication.

EUR/USD was sliding towards the publication, but within range, to 1.3510. It is now trading at 1.3525 after already reaching 1.3530. This is all within the range.

Update:  Draghi remains calm about low inflation – EUR/USD leaps

Analysis:  ECB expects the situation to sort itself out, but things could still worsen

Update: after the initial rise, EUR/USD fell back to down and it even extends its losses. The pair battles with 1.35

The focus now shifts to the press conference held by ECB president Mario Draghi. He might provide hints for action in March.

See the preview:  5 scenarios for the ECB decision

Stay tuned for a live blog of the event, coming soon.

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.