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
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.
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--- Written by Christopher Vecchio, Currency Analyst
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