The latest news before the ECB decision today
|Important news for the day
Thu, 17th, 14:15 CET EU Interest rate decision
ECB rate decision
Today, the European Central Bank will hold their rate decision and it is expected that rates will be reduced by 25 basis points to 3.4%. This would mark another rate- cut after the last meeting in September. As the EUR recently started to weaken a further slide in rates against other currencies might be seen. The economy in Europe is under pressure as especially the powerhouse of Germany disappoints. Lower rates should hence support the economy causing corporations to get access to cheaper financing.
Market talk
The strength of the Dollar continue yesterday and the Dollar index also crossed the potential resistance zone in form of the 50- moving average based on the weekly chart. If the upside potential continues, a stronger Greenback should be expected. In particular the chances that the EUR will head lower after the interest rate decision of the ECB today might offer further strength of the Dollar. That said the general risk sentiment remains positive with equities rising to higher levels.
Tendencies in the markets
- Equities positive, USD stronger, cryptos positive, oil weak, metals positive, JPY weaker
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.