Technical Analysis

ECB Exec Board Member Mersch:ECB confident rebound will ultimately come

Speaks in Luxembourg

He adds:

  • ECB package reflects view of economic Outlook
  • Persistence of slowdown is still unclear
  • TLTRO details will come one easy-to-use ready
  • ECB confident rebound will ultimately come
  • Timing, strength of rebound is not clear

The ERUUSD is trading near the session highs and has been able to extend modestly above the broken trend line and just short of the 50% ov the move down from yesterday.  The tumble lower came after the ECB slashed growth and inflation estimates, said that the would postpone tightening to the end of 2019 and announced a new TLTRO program (details to follow). 

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