01 мая 2020, EUR/USD
EURUSD trading plan:
Good and bad news for the European currency. The Governing Council decided today to further ease the conditions on our targeted longer-term refinancing operations. Specifically, we decided to reduce the interest rate on TLTRO III operations during the period from June 2020 to June 2021 to 50 basis points below the average interest rate on the Eurosystem’s main refinancing operations prevailing over the same period. Moreover, for counterparties whose eligible net lending reaches the lending performance threshold, the interest rate over the period from June 2020 to June 2021 will now be 50 basis points below the average deposit facility rate prevailing over the same period. This is negative news for the euro. Positive news for the euro is a bullish rally in the oil market. Investors are increasing their long positions in the hydrocarbon market.
Trading recommendation: range 1.0900 -1.1000.
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