{"id":43870,"date":"2013-11-07T05:52:59","date_gmt":"2013-11-07T10:52:59","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=43870"},"modified":"2013-11-07T05:52:59","modified_gmt":"2013-11-07T10:52:59","slug":"euro-slightly-higher-draghis-press-in-spotlight","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/11\/07\/euro-slightly-higher-draghis-press-in-spotlight\/","title":{"rendered":"Euro Slightly Higher; Draghi\u2019s Press In Spotlight"},"content":{"rendered":"

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

The 17-nation euro was seen trading slightly higher against the greenback on Thursday, after the European Central Bank (ECB) decided to keep its borrowing cost unchanged and investors are looking forward to the press conference of ECB\u2019s President Mario Draghi for any further guidance.<\/p>\n

The euro advanced 0.06% higher to $1.3522 against the US dollar at the time of writing, before the ECB most likely leaves its interest rate at 0.5% at its meeting later in the day.<\/p>\n

Economists are forecasting that the central bank will keep its benchmark interest rate unchanged at 0.5%; however the recent drastic drop in the eurozone inflation may lead the ECB to cut its rate by 0.25%.<\/span><\/p>\n

“An interest rate cut could also exert some welcome downward pressure on the euro,” an analysts from IHSGlobal Insight\u00a0said, adding that the bank “may prefer to hold fire until its December meeting when it will have available the new euro zone gross domestic product (GDP) and consumer price inflation forecasts from its staff.”<\/p>\n

Draghi\u2019s Press Conference <\/span><\/h2>\n

The President of the European Central Bank (ECB) Mario Draghi is expected to give a speech in a press conference and expected to comment on new tools to help the economy, such as possible changes to the bank\u2019s reserve and long-term refinancing operations (LTRO) and more.<\/p>\n

In September, Draghi said that the bank was ready to use any tool to maintain the short-term money market on a level that is warranted by the bank\u2019s assessment of inflation.<\/p>\n

The eurozone\u2019s gross domestic product (GDP) is seen contracting by 0.4% this year, the EC forecasted. However next year, the eurozone economic activity forecasted to expand by 1.1% and 1.7% by 2015.<\/p>\n

The unemployment rate in the eurozone rose 12.2% higher in September, the latest data confirmed. The eurozone unemployment is expected to be seen at 11.8% in 2015, according to forecasts from the EC.<\/p>\n

 <\/p>\n

 <\/p>\n

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The post Euro Slightly Higher; Draghi\u2019s Press In Spotlight<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n

Article provided by HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog The 17-nation euro was seen trading slightly higher against the greenback on Thursday, after the European Central Bank (ECB) decided to keep its borrowing cost unchanged and investors are looking forward to the press conference of ECB\u2019s President Mario Draghi for any further guidance. The euro advanced 0.06% higher to … <\/p>\n

Continue reading “Euro Slightly Higher; Draghi\u2019s Press In Spotlight”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-43870","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/43870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=43870"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/43870\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=43870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=43870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=43870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}