Forex Trading: 07 February 2014
The European Central Bank kept its benchmark interest rate unchanged at 0.25%.
At the ECB press conference Mario Draghi said, 'the risk to the euro zone growth remains on the downside'.
By refraining from announcing additional QE he managed to support the euro which climbed 55 points to $1.3588.
Forex Trading: 06 February 2014
Currency traders remained very cautious ahead of today's ECB meeting, with the euro gaining just 17 points against the dollar to close at $1.3532.
Whilst many believe that the central bank will maintain its interest rate at a record low of 0.25%, it is also widely expected that Draghi will emphasise a dovish stance.
If this turns out to be the case, the shared currency might be on the receiving end of some fresh downside pressure.
Forex Trading: 05 February 2014
is expected to reaffirm its commitment to do whatever it takes to guard the nascent recovery in the Eurozone at its interest rate meeting tomorrow.
Even if no monetary stimulus is going to be added, the central bank will probably maintain its dovish tone.
The EUR/USD pair lost 11 points to $1.3517 as investors were rather reluctant to move it too much in either direction.
Forex Trading: 04 February 2014
Manufacturing in the Eurozone expanded at a faster than anticipated pace, driven by Europe's largest economy, which indicated that the recovery is enjoying some positive momentum.
That gave the shared currency some breathing space, with the EUR/USD spread betting
pair rebounding 44 points to $1.3527.
Later in the week, the ECB interest rate meeting should give a better indication of the status quo.
Forex Trading: 03 February 2014
The euro plunged against the dollar for a second day on Friday, reaching a low of $1.3486, a level not seen since late November.
Concerns continue to mount that declining inflation in the common area will force the ECB to ease its monetary policy.
Producer prices numbers due tomorrow will be closely scrutinised for any extra hints on the subject.
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By Jonathan Sudaria, 7 February 2014