EURUSD hits 4-week low as ECB flags further easing

The euro dropped to a four-week low against the U.S. dollar on Thursday, after the European Central Bank president flagged further monetary easing in December as the rising COVID-19 cases and new restrictive measures have led to a "clear deterioration" in the bloc's near-term outlook and risks are "clearly" tilted to the downside. Lagarde believes that third-quarter economic growth data might be better than expected, however expects this quarter to be weak, with a "very negative" November. Euro was already trading under pressure as investors worried that new lockdown measures will hamper region's economic recovery.

EURUSD decreased to a 4-week low of 1.1657. Should downbeat moods prevail, support at 1.1615 may come into play. Source: xStation5

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.