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ECB Announces Monetary Policy Decision, EUR/USD Unmoved

ECB Announces Monetary Policy Decision, EUR/USD Unmoved

Justin McQueen, Strategist

ECB Talking Points

  • Monetary Policy Tools Unchanged
  • EUR/USD Unmoved

EURUSD Sees Muted Reaction to Latest ECB Decision, as Expected

The Euro sees a muted response following the ECB monetary policy decision in which the central bank left policy tools unchanged as unanimously expected among economists. With QE2 set to commence from November 1st at a monthly pace of EUR 20bln/month, the ECB reiterated that it expects asset purchases to run as long as necessary to reinforce the accommodative impact of its policy rates and to end shortly before raising rates.

Deposit Rate -0.50% (Exp. -0.50%)

Main Refinancing Rate 0.00% (Exp. 0.00%)

Marginal Lending Rate 0.25% (Exp. 0.25%)

EURUSD PRICE CHART: Daily Time Frame (Dec 2018 – Oct 2019)

ECB Announces Monetary Policy Decision, EUR/USD Unmoved

For a more in-depth analysis on EUR, check out the Q4 Forecast for EUR

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

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