After falling for a while yesterday, EURUSD is back to growing.
The major currency pair resumed moving upwards after a short pause yesterday. The current quote for the instrument is 1.2035.
The after its April meeting that was over yesterday, the European Central Bank didn’t change any aspects of its monetary policy. In the comments that followed, Governor Christine Lagarde said that the short-term economic outlook remained rather cloudy due to uncertainty in the region, as well as the risks for more significant financing terms. According to the ECB, the inflation boost that could be seen recently happened due to some specific factors but the overall situation with the inflation pressure remained rather low.
The regulator is sure that the PEPP program will be carried out faster this quarter than before. However, the ECB is not planning to carry out the program to the full extent but it may yet happen if necessary.
The ECB believes that the European economy may shrink a bit in the first quarter but is expected to improve in the second one.
Mid-term risks are estimated by the regulator as more or less balanced, while the overall inflation pressure is expected to increase in the coming months.
At first, the Euro fell after these comments but managed to quickly recover a bit later.
Today, one should pay attention to the statistics on the Manufacturing and Services PMIs from Germany, The Euro Area, and the USA.