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Euro Mixed After ECB Holds Rates; All Eyes on Draghi Press Conference

Euro Mixed After ECB Holds Rates; All Eyes on Draghi Press Conference

2012-10-04 12:18:00
Christopher Vecchio, CFA, Senior Strategist
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THE TAKEAWAY: EUR European Central Bank Rate Decision > Key Rate on Hold at 0.75% as expected > EURUSD NEUTRAL

The European Central Bank has announced its key interest rate for the coming weeks, where it is on hold at 0.75%, as expected according to a Bloomberg News survey. The ECB also announced that it would be leaving its marginal lending rate unchanged at 1.50% and its deposit facility rate unchanged at 0.00%.

ECB President Mario Draghi is now scheduled to speak at 08:30 EDT / 12:30 GMT.

EURUSD 1-minute Chart: October 4, 2012

Euro_Mixed_After_ECB_Holds_Rates_All_Eyes_on_Draghi_Press_Conference_body_Picture_1.png, Euro Mixed After ECB Holds Rates; All Eyes on Draghi Press Conference

Charts Created using Marketscope – Prepared by Christopher Vecchio

Following the rate decision, the EURUSD perked up more from its pre-release gains, trading as high as 1.2967, before falling back to 1.2951 at the time this report was written. The pair remains near session highs set post-release with the session low coming in at 1.2900.

Follow the ECB Press Conference in the DailyFX Real Time News feed.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, send an e-mail with subject line "Distribution List" to cvecchio@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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