(MENAFN- DailyFX)
ECB Monetary Policy Meeting and Euro:
All monetary policy settings left untouched, as expected. QE to end this month continue to reinvest APP flows for an extended period of time.
ECB Unchanged Focus Now Turns to Press Conference.
The ECB left monetary policy unchanged as expected while the accompanying statement was also in-line with market thinking.
The central bank re-confirmed that the bond buying program (APP) would cease at the end of this month while all principal payments and flows will be reinvested ‘for an extended period of time past the date when it starts raising the key ECB interest rates'. The ECB said that it will not raise rates ‘at least through summer 2019'.
EURUSD was little changed net, post-announcement and traders will now wait to hear President Draghi's latest views on growth and inflation in the Euro-Zone at the 13:30 press conference.
EURUSD Five-Minute Price Chart (December 13, 2018)
show investors are currently 56.8% net-long EURUSD a contrarian bearish signal however recent daily and weekly positional shifts give us a mixed URUSD trading bias.
Traders may be interested in two of our trading guides and while technical analysts are likely to be interested in our latest .
What is your view on EURUSD bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at or via Twitter @nickcawley1.
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