ECB Rates on Hold at 0.25% Ahead of Draghi Presser
-ECB keeps rates on hold at 0.25%
-Euro higher ahead of Draghi
-Draghi presser at 12:30GMT (8:30AM EDT)
The Euro is moving higher following the ECB’s decision to keep rates on hold at 0.25% and leave the Marginal Lending Facility and Deposit Facility Rate on hold at 0.75% and 0.00% respectively. Much like the last meeting, it appears as though market participants are waiting for Draghi comments at 12:30GMT. For reference, at the March European Central Bank Rate Decision we saw Mr. Draghi release updated forecasts for 2014 and 2015 while adding some forecasts to the 2016 list.
EUR/USD April 3rd, 2014 (5-Minute Chart)
Source: FXCM Marketscope
Gregory Marks, DailyFX Research Team
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