The ECB extended its forward guidance at today’s meeting but president Draghi saw no need to discuss rate cut as he saw no risk of deflation and very small risk of recession. Markets saw this interpretation as underwhelming which led to a sharp drop in European equities, especially DE30, and to a rally on EURUSD – the pair is retesting the 1.13 handle for the second day in a row. Traders must also be aware of tomorrow’s NFP report (2:30pm CET) in the US.
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
