EUR/USD gains to near 1.059 in Monday’s North American session, with investors focusing on the European Central Bank (ECB) monetary policy decision on Thursday. Markets are almost fully pricing in that the ECB will cut its Deposit Facility Rate by 25 basis points (bps) to 3% as many officials have shown concerns over risks of inflation undershooting the bank’s target due to the weak economic outlook.
The ECB has already reduced the deposit rate by 75 bps this year and Thursday’s rate-cut decision would be the third in a row.
Market participants expect the Eurozone economy to underperform amid political uncertainty in Germany and France, which are the largest nations of the bloc. The potential impact on the export sector when US President Donald Trump takes the administration at the White House is also a source of concern.
Technically, we have what appears an ascending triangle, of subwave 4 . In case if breaks downwards, we can see much more decline.
The ECB has already reduced the deposit rate by 75 bps this year and Thursday’s rate-cut decision would be the third in a row.
Market participants expect the Eurozone economy to underperform amid political uncertainty in Germany and France, which are the largest nations of the bloc. The potential impact on the export sector when US President Donald Trump takes the administration at the White House is also a source of concern.
Technically, we have what appears an ascending triangle, of subwave 4 . In case if breaks downwards, we can see much more decline.
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