Forex Blog

Today on 13:30 (UTC) ECB statement was released as the interest rates in the Eurozone were increased by 0.25% to 4.00% as expected. Jean-Claude Trichet spoke about current and expected situations in European economy and the main lines can be concluded in the following: economy is growing at a fast pace (better than expected), while inflation remains strong (because of oil prices) and the price index will be in ECB main view. This can lead to a conclusion that rates can be increased in near future. Despite of this, EUR/USD Forex pair continues its floating around 1.3500 level going nowhere for now.