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The ECB reduces the amount of asset purchases

The ECB reduces the amount of asset purchases | 03 March 2021

03 March 2021, EUR/USD

The ECB reduces the amount of asset purchases

EURUSD trading plan:

The ECB has published fresh statistics on the change in assets on the balance sheet. The indicator increased by €9.32 billion over the week, against €22 billion a week earlier. The growth rate has reduced to a minimum in the last 4 weeks, which is positive for the euro. The safe-haven U.S. dollar remained broadly weaker, as Treasury yields continued to retreat, restoring some calm to global markets and reigniting demand for riskier assets. The yield on the benchmark 10-year Treasury note is in a long-term trend lower.

Investment idea: buy 1.2070 and take profit 1.2120.

David Johnson
Analyst of «FreshForex» company
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