EURUSD ECB meeting now in spotlight Trading re

EUR / USD: ECB meeting – now in the spotlight. Trading recommendations.

Overview and Dynamics

the focus of market participants today is the ECB meeting at 14:45
(GMT + 3) on which the decision will be made on interest rates in the euro area.
Next, at a press conference, which will begin at 15:30, ECB President Mario
Draghi made comments on the monetary policy of the ECB. Opinion
most economists are inclined to think that the ECB will not change its long
monetary policy, and the rate will remain unchanged at 0.05%. ECB
may take a break and wait for the Fed’s decision on interest rates in the United States.
The Fed meeting will be held later on October 27-28. However, Mario Draghi may hint
for further quantitative easing in light of the unfavorable data
Inflation in the euro zone, published recently. While the program of asset purchases in
the euro area is a monthly amount of EUR 60 billion.

that the ECB will increase monetary stimulus to support growth
economy in the euro area, can be supported against the backdrop of the fact that due to the
slowing global economy, especially China, the central banks of countries
the leading economies of the world in turn provide signals to mitigate the monetary
policies in their countries.

so in
Wednesday, the Bank of Canada left its key interest rate unchanged at 0.5%, lowering
Weather forecasts for the Canadian economy in the next two years because of falling prices
raw materials, and pointed to a tendency to soft policy.

A Fed
may delay raising interest rates in the US at a later date.

signal to mitigate the possible monetary policy in the Euro zone steel
comments of the ECB Governing Council member Ewald Nowotny, who last
week said that the ECB will need to use more monetary instruments
policies to improve the competitiveness of the euro zone. on comments
Nowotny EUR / USD pair dropped sharply from highs near the mark
1.1500, and now with the opening of the European session, dropping, being near the mark

With the opening of
the day the euro is also reduced in virtually all major cross-pairs.

EURUSD ECB meeting now in spotlight Trading re

See technical analysis and trading recommendations – HERE!

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