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 page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".
