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Breaking news

ECB leaves monetary policy unchanged

Real Time News
  • - Governing Council did not discuss any phasing out of PEPP - Premature to discuss tapering - Any determination of PEPP purchases is data dependent
  • - Ambitious and coordinated fiscal stance remains crucial - National fiscal policies should address vulnerabilities effectively and be temporary and targeted - Next Gen EU plan must be made operational without delay
  • - Risks to medium-term outlook are more balanced - Recovery to be driven by both domestic and global demand - Headline inflation likely to increase in coming months based on temporary factors - Temporary factors should fade out of inflation readouts by early 2022
  • - Euro-area economy may have contracted again in Q1 2021 - Data points to a resumption of growth in Q2 - Progress on vaccines should pave the way for a firm rebound in activity in 2021
  • - ECB is monitoring developments in FX rate on inflation outlook - Standing ready to adjust all instruments as appropriate to support inflation goals
  • - Financing conditions have been broadly stable recently - Risks to wider financing conditions remain despite stabilization of market rates - Will continue with PEPP purchases until at least the end of March 2022
  • - Expect a firm rebound in activity later in year - Underlying price pressures remain subdued - Preserving favorable financing conditions is essential
  • ECB's Lagarde: - Near term outlook is clouded - Persistently high rates of Covid and associated containment measures continue to constrain activity in the near term #ECB $EUR
  • 🇨🇦 New Housing Price Index YoY (MAR) Actual: 7.9% Previous: 7% https://www.dailyfx.com/economic-calendar#2021-04-22
  • another nice round of US economic data...claims & Chicago Fed
AUD/USD Slow Grind at the Top

AUD/USD Slow Grind at the Top

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

AUD/USD Slow Grind at the Top

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to AUD/USD technical comments, which remains more or less stationary at resistance. “AUD/USD continues to trade at a long term resistance zone (stretches to the 2016 high at .7835). The near term bias line is (still) .7600. As long as price is above the figure, shorts are fighting an uphill battle.” It might be time to fight the uphill battle as the rally from 2/7 takes the shape of a wedge. Weakness below the wedge line would signal an opportunity.

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

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