The European Central Bank (ECB) added €500 billion to QE and will run the program into 2022. Weak language on the exchange rate also boosts the euro. More EUR/USD gains are likely, Yohay Elam, an Analyst at FXStreet, reports. Key quotes “The ECB added €500 billion to its Pandemic Emergency Purchase Program, as expected, but surprised by extending the scheme all the way to March 2022. Investors were also comforted by the lack of language change regarding the exchange rate.” “Christine Lagarde, President of the ECB, was only marginally more dovish in her press conference, responding to a question by saying the bank is monitoring the euro ‘very carefully.’ She also stressed that the bank has the option to cut rates, a specter that scares markets, but that option is always there – it was not an imminent hint of action. Overall, the ECB delivered on its promises without trying to lower the euro – a win-win for EUR/USD.” “US weekly jobless claims leaped to 853,000, a worrying sign. The data may push Congress to agree on a stimulus package, yet negotiations have yet to yield fruit.” “Resistance awaits at the 2020 high of 1.2177. The next levels to watch are 1.22 and 1.2250. Support awaits at 1.21, 1.2075 and 1.2060.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Treasury Secretary Mnuchin says a lot of progress made on stimulus, S&P 500 rises FX Street 2 years The European Central Bank (ECB) added €500 billion to QE and will run the program into 2022. Weak language on the exchange rate also boosts the euro. More EUR/USD gains are likely, Yohay Elam, an Analyst at FXStreet, reports. Key quotes “The ECB added €500 billion to its Pandemic Emergency Purchase Program, as expected, but surprised by extending the scheme all the way to March 2022. Investors were also comforted by the lack of language change regarding the exchange rate.” “Christine Lagarde, President of the ECB, was only marginally more dovish in her press conference, responding to a question by… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
