The European Central Bank stood pat for now and finally did not surprise the market at yesterday’s policy decision. Policy makers, however, paved the way for a fresh easing package in December. The ECB held its pandemic bond-buying program at 1.35 trillion euros, reiterating that it will run until at least June 2021 and won’t be stopped until the “crisis phase” of the pandemic is past.
The euro reacted in line with the market’s expectations and slid slightly lower to a low of 1.1650. We were able to book a good profit yesterday by trading our short entry.
We will be back on Monday and until then we wish you a wonderful and relaxing weekend!
We wish you good trades!
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