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Reduction of assets on the ECB's balance sheet

Reduction of assets on the ECB's balance sheet | 07 January 2021

07 January 2021, EUR/USD

Reduction of assets on the ECB's balance sheet

EURUSD trading plan:

The ECB has published fresh statistics on the change in assets on its balance sheet. Assets fell by 37.15 billion euros, against an increase of 5.76 billion euros a week earlier. The ECB cut bond redemptions by 9.12 billion euros, which was the main reason for the reduction in assets on the balance sheet. This is a positive signal for the European currency! Additional support for the euro will be provided by a bullish rally in the oil market. Saudi Arabia announced it would cut 1 million barrels a day from production in February and March. A good signal for oil prices!

Investment idea: Buy 1.2296 and take profit 1.2350.

David Johnson
Analyst of «FreshForex» company
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