The likelihood of additional monetary stimulus | 10 سبتمبر 2020
10 سبتمبر 2020, EUR/USD
EURUSD trading plan:
The European Central Bank is keeping its benchmark rate on hold at 0.00% and its deposit rate unchanged at 0.50%. A stronger currency generally weighs on export growth and curbs import prices, leading to a slowdown in inflation. ECB's Chief Economist Philip Lane said that the euro’s level "does matter" for monetary policy. In June, the ECB expected an inflation rate of 1.3% for 2022. Any downward revision will increase the likelihood of additional monetary stimulus. This is a negative signal for the European currency.
Trading recommendation: Sell 1.1845 and take profit 1.1800.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
