Release Explanation: It reveals the statistical data that the ECB Governing Board evaluated when making the latest interest rate decision. The report also provides detailed analysis of inflation and current economic conditions.
Trade Desk Thoughts: The ECB releases the data that backs the bank’s decision to cut interest rates by 75 basis points, to 2.50% at the meeting held one week ago. Usually, the market has a weak response to this release, since the data that makes up the bulletin has already been released. It seems that the “risk to the downside” that Mr. Trichet spoke about has already materialized, since the ECB has cut 175 basis points in the last months. Even though the market considers the ECB’s main concern now is assuring liquidity in the inter-banking market and supporting growth, Mr. Trichet had asserted in public speeches that the ECB has only one objective: price stability.
Forex Technical Reaction: The euro is trading just above TheLFB R1 (1.3090), after earlier it tested the R2 pivot point (1.3165). Since the Asian session started, the pair has gained 80 pips.
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ECB Bulletin Shows Risk To The Downside
Published 12/31/2000, 07:00 PM
Updated 12/11/2008, 04:10 AM
ECB Bulletin Shows Risk To The Downside
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