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The key ECB interest rates to remain at their present

The key ECB interest rates to remain at their present | 11 September 2020

11 September 2020, EUR/USD

The key ECB interest rates to remain at their present

EURUSD trading plan:

The Governing Council expects the key ECB interest rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, 2% within its projection horizon, and such convergence has been consistently reflected in underlying inflation dynamics. The Governing Council will continue its purchases under the pandemic emergency purchase program with a total envelope of €1,350 billion. These purchases contribute to easing the overall monetary policy stance, thereby helping to offset the downward impact of the pandemic on the projected path of inflation. This is a negative signal for the euro.

Trading recommendation: Sell 1.1860 and take profit 1.1820.

David Johnson
Analyst of «FreshForex» company
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