WILL THE ECB TAKE ACTION TODAY?

The ECB’s interest rate decision will be released today. The bank is expected to maintain it’s rate unchanged at 0.0%. According to the EUR OIS there is an implied probability of 52.15% for the bank to remain on hold. However, there's also another 47.85% probability to cut rates by 10 basis points . Analysts point that the ECB may be waiting to see what The FED will do on the 31st of July.

The overall expectation of the market is that the bank is expected to have a dovish outlook based on the recent weak economic data and to prepare the ground for action in its September meeting.

EURUSD 4 Daily

EURUSD Forex pair
Support: 1.0970 (S1), 1.1040 (S2), 1.1100 (S3)
Resistance: 1.1140 (R1), 1.1180 (R2), 1.1220 (R3)
Forex volatility

Posted on

July 25, 2019

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Market Updates

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