FXTM information and reviews
FXTM
93%
IronFX information and reviews
IronFX
92%
Libertex information and reviews
Libertex
91%
ETX Capital information and reviews
ETX Capital
90%
FxPro information and reviews
FxPro
89%
FIBO Group information and reviews
FIBO Group
88%
EUR/USD
1.1916
GBP/USD
1.394
USD/JPY
110.2129
USD/CHF
0.9175
USD/CAD
1.2349
EUR/JPY
131.3321

Dovish ECB tone hit the Euro


23 April 2021

The ECB kept policy unchanged, which helped the euro develop intraday gains right up to Lagarde’s press conference. However, the European Central Bank president’s comments should be seen as very dovish, weighing on the euro’s strength. It won’t be surprising if we soon see a new battle for 1.2000 in EURUSD.

In particular, Lagarde has said that it is too early to discuss a withdrawal of stimulus. Like the Fed, the ECB pointed out the temporary nature of inflation and warned that they would look through its near-term spike.

Besides, Christine Lagarde lamented that it is unlikely to follow in tandem with the Fed. This is a clear hint that the ECB is prepared to lag somewhat behind. However, this lag is also justified by the macroeconomic implications caused by the pandemic.

So far, the Eurozone is clearly losing the vaccination race. This is reason enough to form weaker rate expectations and has the potential to make the euro an outsider against its major competitors such as the dollar, the pound and the yen.

#source

Related

The Euro is climbing quietly

EURUSD is growing slowly and quietly while investors are following the statistics and waiting for the Fed meeting results. The major currency pair continues...

16 Jun 2021

Dollar boom or bust? All eyes on Fed today

Stock markets have taken a step back from recent highs, and the currency market is seeing some strengthening of the dollar ahead of the Fed meeting later Wednesday...

16 Jun 2021

EUR/USD recovered losses, all eyes on US Retail Sales

EUR/USD is recovering after the enormous slump on Monday. It has reversed up from the 50-day moving average of 1.2090 and keeps edging higher...

15 Jun 2021

US Dollar Index stays under pressure around 90.00

The US Dollar Index (DXY), which tracks the greenback vs. a bundle of its main competitors, comes under extra selling pressure on Friday, although it manages...

11 Jun 2021

EUR/USD remains on the defensive near 1.2170 area

The EUR/USD pair held steady near the top end of its daily trading range, around the 1.2175-80 region and moved little post-ECB announcement. The pair stalled...

10 Jun 2021

The USD switched to consolidating

EURUSD has fixed within a narrow range; investors are saving strengths before the ECB and FRS meetings. The major currency pair continues consolidating...

9 Jun 2021


Editors' Picks

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.