The European Central Bank Board Meeting

EUR/USD. Main event of the week: The European Central Bank Board Meeting (April 21, 14:45 GMT +3)

This week a meeting of the European Central Bank is taking place: the participants are going to present a report on refinancing rate.

Last time, in order to stimulate the economy and accelerate inflation, they lowered the refinancing rate from 0.05% to 0% and reduced the deposit rate.

Last week, on April 14, the inflation data for the Eurozone was published. The figures turned out to be slightly better than expected, hence they favorably influence the course of the European single currency.

A common way to fight inflation is to raise rates in order to attract foreign investments.

The growing trend retains for a long time. RSI is kept within overbought levels, thus drastic changes are not expected.

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