Euro Mixed After ECB Minutes
21 Noviembre 2019 - 3:34AM
RTTF2
The euro showed mixed trading against its major counterparts in
the European session on Thursday, following the release of the
European Central Bank's minutes showing broad agreement among
members to keep the monetary policy stance unchanged at the October
meeting.
Members broadly agreed that more information would be needed to
reassess the inflation outlook and the impact of the monetary
policy measures taken by the Governing Council at the September
meeting, the minutes of October 23-24 Governing Council meeting
showed.
Members expressed confidence that the comprehensive package of
policy measures announced at the September meeting provided
substantial monetary stimulus, aiding a further easing in borrowing
conditions for firms and households.
These measures would support the euro area expansion and the
ongoing build-up of domestic price pressures, thereby achieving its
inflation aim.
Members widely supported a "wait and see" stance as they sought
patience to allow the measures taken in September to work through
the economy.
The currency held steady against its major counterparts in the
Asian session, except the yen.
The euro climbed to more than a 2-week high of 1.1097 against
the greenback from Wednesday's closing value of 1.1072. The euro is
seen finding resistance around the 1.12 level.
The euro appreciated to near a 2-week high of 1.1004 against the
franc from yesterday's closing value of 1.0972. The currency is
likely to locate resistance around the 1.13 level. The euro firmed
to a 3-day high of 120.58 against the yen, compared to 120.24 hit
late New York Wednesday. On the upside, 122.00 is possibly seen as
its next resistance level.
Figures from the Ministry of Economy, Trade and Industry showed
that Japan's all industry activity rose in September.
The all industry activity index rose 1.5 percent month-on-month
in September, after remaining unchanged in August. This was in line
with economists' expectations.
Extending early fall, the euro depreciated to a 2-day low of
0.8545 against the pound. Should the euro drops further, 0.84 is
possibly seen as its next support level.
Data from the Office for National Statistics showed that the UK
budget deficit widened more than expected in October.
Public sector net borrowing excluding public sector banks,
increased by GBP 2.3 billion from the last year to GBP 11.2 billion
in October. The expected level was GBP 9.3 billion.
Looking ahead, U.S. existing home sales and leading index for
October are set for release in the New York session.
Eurozone flash consumer sentiment index for November will be
published at 10:00 am ET.
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