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- European session review: EUR appreciates, as investors digest ECB latest monetary policy decision
European session review: EUR appreciates, as investors digest ECB latest monetary policy decision
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 06:00 | Switzerland | Trade Balance | March | 3.4 | 3.9 | |
| 10:00 | United Kingdom | CBI industrial order books balance | April | -5 | 2 | -8 |
| 11:45 | Eurozone | ECB Interest Rate Decision | 0% | 0% | 0% |
EUR advanced against its major rivals in the European session on Thursday, following the release of the European Central Bank’s (ECB) monetary policy statement, which, in general, offered little new information.
At the April meeting, the ECB’s officials decided to leave its ultra-easy policy unchanged, as widely expected. The Bank’s main refinancing rate, marginal lending facility rate and the deposit facility rate were maintained at 0.00 percent, 0.25 percent and -0.50 percent, respectively. The policymakers also repeated that they will continue the purchases under the pandemic emergency purchase program (PEPP) with a total envelope of EUR1,850 billion until at least the end of March 2022, and that the purchases under the PEPP over the current quarter are expected to continue to be conducted at a significantly higher pace than during the first months of the year.
Market participants’ attention is now turning towards the press conference by the ECB’s President Christine Lagar (due at 12:30 GMT), during which she is to comment on the considerations underlying the ECB’s latest decisions.
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