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Breaking: ECB Announcement Unchanged, EUR/USD Muted

Breaking: ECB Announcement Unchanged, EUR/USD Muted

Justin McQueen, Strategist

EUR/USD, ECB Price Analysis & News

  • ECB Leave Monetary Policy and Accompanying Statement Unchanged
  • Euro Unchanged Following Announcement

ECB Copy and Paste as Policy and Statement are Left Unchanged

As widely expected the ECB left monetary policy settings unchanged with the accompanying statement also a copy and paste from the prior month. The central bank reiterated that they will operate PEPP purchases at a significantly higher pace over the current quarter, while the PEPP will continue until at least the end of March 2022. In reaction to this unanimously expected action and statement, EUR/USD and bund yields were unchanged. For levels to watch in EUR/USD, click here.

Looking ahead, ECB Lagarde’s press conference is scheduled for 13:30BST. However, as I mentioned earlier, the ECB President will likely provide little in the way of new information.

For the full commentary of the ECB Press Conference check out the @DailyFXTeam Twitter Handle.

The European Central Bank: A Forex Trader’s Guide

EURUSD, German Bund Instant Reaction

Breaking: ECB Announcement Unchanged, EUR/USD Muted

Source: Refinitiv

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