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Breaking: ECB to Maintain PEPP Buying at Significantly Higher Pace

Breaking: ECB to Maintain PEPP Buying at Significantly Higher Pace

Justin McQueen, Strategist

EUR/USD, ECB Price Analysis & News

  • ECB to Maintain PEPP Purchases at Significantly Higher Pace
  • Euro Muted Following Expected Decision

No Fireworks from the ECB as Expected

The ECB kept key interest rates unchanged as expected. More importantly, the ECB stuck with the rhetoric that PEPP purchases over Q3 will continue at a “significantly higher pace” compared to the first few months of the year. The significantly higher pace equating to circa EUR 80bln/month. For key levels to watch in EUR/USD and EUR/JPY, click here.

Market reaction: In turn, with little in the way of surprises in the decision, the Euro saw a very muted reaction and thus remained in a very tight range.

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

Source: Refinitiv

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

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