EUR/USD at 1.1299. ECB kept interest rates unchanged.

EUR/USD closed the European session unchanged after having a volatile day, ranging from 1.1274 to 1.1394. As of 1:00 PM EDT the currency pair was trading at 1.1299 (flat).

European shares closed mixed today. Below is presented the performance of major indices:

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  • FTSE 100 closed at 6,381.44, down 0.45%.
  • CAC 40 fell 0.20% finishing at 4,582.83.
  • Euro Stoxx 50 was trading at 3,151.69 as of 5:50 PM GMT, which represents a 0.29% increase from the previous close.

The European Central Bank announced today that it will held its key interest rates steady. ECB President Mario Draghi reported that they are ready to use all available tools to assure that the inflation returns to the target rate. The ECB kept its interest rates constant, particularly its main refinancing rate at 0.0%, and the marginal lending rate at 0.25% and the deposit facility rate at -0.4%. It’s important to mention, that ECB made a dramatic move last month by cutting all its interest rates and increasing its bond-buying program.

“The Governing Council will continue to monitor closely the evolution of the outlook for price stability and, if warranted to achieve its objective, will act by using all the instruments available within its mandate,” said Draghi.

According to the report from the European Commission the Eurozone consumer confidence increased to -9.3 in April, which is more than the analysts’ expectation of -9.5.

Oil prices declined during European session today. As of 1:03 PM EDT the WTI Crude was trading at 43.52 USD/bbl down 1.49% and Brent Crude at 45.08 USD/bbl, which is 1.57% lower than the previous close.

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I’m a finance specialist with 4+ years of working experience, out of which 2 years as a SME relationship manager at Byblos Bank and 2 years as a Finance Director in a Food & Beverage sector. My academic background include BA in economics, MA in finance, CFA Level 1 and F1, F2, F3 level of ACCA. I’m also experienced in Forex/CFD trading and Forex/ Equity markets analysis.

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