ECB Keeps Rates Unchanged

The EURUSD remains in a sideways consolidation with a bearish edge. Its green 5-day EMA is below its orange 13-day EMA, and its orange 13-day EMA is below its black 34-day EMA. The ECB kept rates unchanged today at 0%. The policy statement maintained that “the governing council expects the key ECB interest rate to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases.” The ECB sees inflation as muted but did concede that there are signs of nominal wage growth. The EURUSD climbed initially during the press conference but faded off its highs as the conference wound down.