Today, the ECB will announce its decision on interest rates, and also will be held a press conference of the head the ECB, Mario Draghi, on which he can announce new measures to fight deflation. We recall that the consumer price index in March fell to 0.5%, against 0.7% in February. Reducing inflation is dangerous for the further growth of the EU economy.
We expect additional actions to take place at the next meeting of the ECB, which in turn should lead to a depreciation of the euro. Also, tomorrow will be published data on the U.S. labor market. With the improved indicators, we expect strengthening of the dollar and fall of euro. We maintain a long-term negative outlook for the euro.
Wish you the profits!
FXFINPRO Capital Analytical department.