No change from the ECB, as expected. The euro remains almost frozen in anticipation of Draghi’s words, especially after the all talk this week.
The ECB was widely expected to leave the main lending rate unchanged at 0.05% and the deposit rate at -20%. Draghi has already stated that rates have reached their lower bound, so there’s no surprise there.
EUR/USD managed to rise above 1.25 towards the decision. All eyes are on Draghi now. What will he say in the press conference? Join Valeria Bednarik and I for a live video coverage of the ECB event.
Here is the video feed and some background information:
- Expect Draghi To Prevail; Staying Short EUR/USD targeting 1.18 – BNPP
- Watch 1.2450 on EUR/USD – Elliott Wave Analysis
- Did Bundesbankers only vent frustration, unable to stop the inevitable? Sell opportunity in EUR/USD?
- Draghi discontent: EUR/USD leaps on internal opposition to trillion euro target surfaces