{"id":118167,"date":"2017-12-15T07:40:46","date_gmt":"2017-12-15T12:40:46","guid":{"rendered":"http:\/\/countingpips.com\/?p=118167"},"modified":"2018-06-01T15:48:24","modified_gmt":"2018-06-01T15:48:24","slug":"eurusd-frozen-at-the-balance-line","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/12\/eurusd-frozen-at-the-balance-line\/","title":{"rendered":"EURUSD: frozen at the balance line"},"content":{"rendered":"
December 15, 2017<\/div>
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By Gabriel Ojimadu, Alpari<\/strong><\/p>\n

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Previous:<\/strong><\/p>\n

On Thursday the 14th<\/sup>\u00a0of December, the ECB decided to maintain its key interest rate at 0.0% and the deposit rate at -0.4%. The euro\/dollar pair jumped to 1.1863 after the publication of economic forecasts before dropping back to 1.1771 (-92) after Mario Draghi\u2019s speech and the publication of US data.<\/p>\n

During the press conference, Draghi said that the ECB had upgraded their economic forecasts for GDP and inflation growth. Projected GDP growth in 2018 has been revised upwards from 1.8% to 2.3%, while projected inflation has been revised from 1.2% to 1.4%. Draghi added that if the conditions for economic growth get any worse, the ECB would expand its asset purchasing program.<\/p>\n

The US dollar rose against most of the majors after positive statistics on employment and retail sales. The number of initial jobless claims last week fell by 11,000 to 225,000. The retail sales index grew by 0.8% against a forecast of 0.3% and a previous reading of 0.5% (revised from 0.2%).<\/p>\n

Day\u2019s news (GMT+3):<\/strong><\/p>\n