Vi bruker en rekke cookies for å forsikre oss om at du får den beste brukeropplevelsen. Ved kontinuerlig bruk av denne nettsiden, godtar du bruken vår av cookies. Du kan lese mer om policyen vår for cookies her, eller ved å følge linken nederst på alle sidene på nettstedet vårt.
Euro calms following QE speculation
The EUR/USD pair is currently trading at $1.161, down 0.03% on Thursday ahead of the ECB’s latest interest rate decision, scheduled for 12:45. However it will be the press conference following the data release that will be the focus of markets, as whispers that a round of quantitative easing will begin from March this year – seeing the ECB expand its balance sheet by €50 billion a month into 2016 – is finally to be verified. As news of the possible QE package began to circulate on Wednesday EUR/USD spiked to $1.168, testing the pair’s 200-hour moving average. However, as markets calmed, the pair found support at the 100-hour moving average, and is currently trading at $1.1583.
On a daily timeframe the pair remains oversold, which suggests that we could see a move higher should monetary easing be confirmed in-line with market expectations, with the price re-testing the 200-hour moving average at $1.167. However, should Mario Draghi throw the market a curve ball and downside support of $1.1583 fails to hold, the next clear downside level to presents itself would be $1.1506.