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ECB monetary stimulus

ECB monetary stimulus | 09 September 2020

09 September 2020, EUR/USD

EURUSD trading plan:

The currency’s 10% jump since coronavirus lockdowns started in March makes ECB President Christine Lagarde’s job harder by putting downward pressure on inflation. Combined with signs that the economic recovery is slowing, it boosts the case for more monetary stimulus. After the euro rose above $1.20 last week, chief economist Philip Lane knocked it back by saying it “does matter” for monetary policy. Lagarde may even want to hint at what the ECB would do. She might link the currency’s impact on inflation to the possibility of stepping up the pace of the 1.35 trillion-euro.

Trading recommendation: Sell 1.1785 and take profit 1.1750.

David Johnson
Analyst of «FreshForex» company
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