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The European Central Bank left all the interest rates unchanged, as widely expected. This includes the deposit rate.

EUR/USD traded just above 1.32 before the release, failing to break yesterday’s high of 1.3217. It is now sliding a bit, but not going to far.

All eyes are now on Mario Draghi. The president of the ECB will hold a press conference at 12:30 GMT. Stay tuned for a live blog of the event.

The euro-zone has seen some improvement, with a return to growth in Q2 2013 and PMIs point to further improvement. However, this growth is uneven, and the debt crisis is far from being resolved. In addition, inflation has been sliding once again.

Further reading:  EUR/USD: Trading the US Non-Farm Payrolls