The European Central Bank was expected to leave its policy unchanged. The interest rate is predicted to remain at 0%, the deposit rate at -0.40% and the QE program at €80 billion/month. And indeed, we did not receive any policy change. Perhaps the action will come in the press conference.
The current program ends in March 2017. The speculation is about the future about this bond-buying scheme. If the ECB takes the tapering path, the euro could rise. This scenario looks unlikely at the moment. There are higher chances that the ECB extends the current program beyond the current end date.
EUR/USD is stuck under 1.10, with resistance at 1.1120 and support at 1.0910.
Here is the live coverage with Valeria Bednarik, Mauricio Carrillo and myself:
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