By now, you probably already know that the ECB cut their interest rates from 0.15% to 0.05%
Two weeks ago, Draghi signaled that he was ready to act again, and yet, no one expected the ECB to act so quickly…
But here we are, they reduced their interest rates by 10 basis points to spur economic growth and reduce the risk of deflation…
Was it a good measure?
Only time will tell… but if you want to hear my opinion, Draghi knows his stuff, so its probably the way to go.
Now, did you see the impact in the market?
We saw massive forex swings on most currency pairs and crosses!
ECB, forex, interest rate cut
Want to know why I’m taking a long weekend?
- Earlier today the ECB announced a rate cut to 1% from 1.25%. Did you see the impact on the market on the rate cut? It was descent, and we’ll probably see more volatility because of this.
- European Summit. The next following days are extremely important for the European crisis, plenty of decisions need to be taken, and by judging today’s impact of the ECB rate cut, we’ll see more wild moves today and tomorrow.
So let me suggest you, just take the rest of the week off, I’m going to do it.
Are you doing to trade the rest of the week? Let me know.
Please have a great weekend!
ECB, european summit, interest rate