11.06.2014 - ECB can further stimulate the growth of inflation

The price of euro fell yesterday after the statement of a member of the Governing Council of the European Central Bank Liikanen. In the speech, he noted that the ECB is ready for further steps to deal with low inflation which may include the provision of cheap credit resource to banks until 2016. From a technical point of view, the price has reached the level of the nearest local maximum of about 1.3530. In case of further decrease in the descending channel price will reach 1.3500. After a decline, we expect that the price of the euro will correct upwards and maintain a medium-term negative outlook for the euro.

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