{"id":140605,"date":"2019-01-24T11:22:26","date_gmt":"2019-01-24T16:22:26","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=140605"},"modified":"2019-01-24T11:03:28","modified_gmt":"2019-01-24T16:03:28","slug":"euro-weakens-on-downbeat-ecb","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/01\/euro-weakens-on-downbeat-ecb\/","title":{"rendered":"Euro weakens on downbeat ECB"},"content":{"rendered":"<div id=\"inves-593699915\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 24, 2019<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p><strong>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/strong><\/p>\n<div class=\"article-body\">\n<div class=\"field-body\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p>In a widely expected move, the European Central Bank left its benchmark interest unchanged at 0% in January.<\/p>\n<p>However, President Mario Draghi\u2019s cautious comments and warnings of rising risks to growth sent the Euro tumbling lower against its major counterparts. According to Draghi, the \u201crisks surrounding the euro area growth outlook have moved to the downside\u201d thanks to persistent uncertainties. Geopolitical risk factors in the form of trade tensions and Brexit drama have weighed on Europe while a lack of growth in Germany, France and Italy simply rubbed salt into the wound. With headline inflation likely to decline further over the coming months and near-term growth momentum likely to be weaker than expected, the Euro is seen depreciating further. The fact that Draghi also reiterated the central bank\u2019s dovish stance of leaving rates at their present levels through summer of 2019 and possibly longer, the outlook for the Euro remains fundamentally bearish.<\/p>\n<p>Taking a look at the EURUSD, the currency pair remains under pressure with prices sinking towards 1.1300 before later recovering. The Euro has the potential to conclude\u00a0heavily depressed this week if investors exploit the downside momentum to push prices lower. A solid daily close below 1.1300 will signal further downside towards 1.1200.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.forextime.com\/images\/maa\/eurusdweekly_14.png\" alt=\"\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><em><strong>Disclaimer: <\/strong>The content in this article comprises personal opinions and should not be construed as containing personal and\/or other investment advice and\/or an offer of and\/or solicitation for any transactions in financial instruments and\/or a guarantee and\/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.<\/em><\/p>\n<\/div>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"https:\/\/www.countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\" rel=\"noopener\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime In a widely expected move, the European Central Bank left its benchmark interest unchanged at 0% in January. However, President Mario Draghi\u2019s cautious comments and warnings of rising risks to growth sent the Euro tumbling lower against its major counterparts. According to Draghi, the \u201crisks surrounding the euro area growth outlook have [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-140605","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=140605"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140605\/revisions"}],"predecessor-version":[{"id":140607,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/140605\/revisions\/140607"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=140605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=140605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=140605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}