As widely expected, the European Central Bank left the interest rate unchanged at 0.05% and the deposit rate at -0.30%. There is no announcement of further details to come in the press conference. EUR/USD rises within the range.
The European Central Bank was not expected to change policy in its first decision for 2016. In December, Draghi and his colleagues announced a cut in the deposit rate, an extension of QE and reinvestment of proceeds, but this was not enough for the expectations he had created, and eventually EUR/USD made an amazing upside move. The focus shifts to the press conference.
EUR/USD was hugging 1.09 before the publication.
Follow the live coverage with Valeria Bednarik, Dale Pinkert and Mauricio Carrillo here:
(If you can not see or type in the chat box please go here)Get the 5 most predictable currency pairs