{"id":77356,"date":"2015-08-25T06:51:52","date_gmt":"2015-08-25T10:51:52","guid":{"rendered":"http:\/\/countingpips.com\/?p=77356"},"modified":"2015-08-25T07:48:39","modified_gmt":"2015-08-25T11:48:39","slug":"euro-reverses-following-pboc-interest-rate-cut","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/08\/euro-reverses-following-pboc-interest-rate-cut\/","title":{"rendered":"Euro Reverses Following PBOC Interest Rate Cut"},"content":{"rendered":"<div id=\"inves-4150832904\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 25, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>The EUR\/USD dropped in early North American trading following news that the Chinese central bank reduce their benchmark interest rate.\u00a0 Stock futures soared and oil prices moved higher as the PBOC rushed in to stabilize their stock and currency markets.<\/p>\n<p>Chinese official slashed their benchmark lending rate for the fifth time since November and lowered bank reserve requirements.\u00a0 The move by the Peoples Bank of China is another in their efforts to cushion a stock market rout and deepening economic slowdown. The one-year lending rate will drop by 25 basis points to 4.6 percent effective Wednesday, according to the PBOC. The one-year deposit rate will fall by 25 basis points to 1.75 percent.<\/p>\n<p>The EUR\/USD is creating an inside day following the surge in the currency pair on Monday.\u00a0 The exchange rate broke out above trend line resistance at 1.1320, which is now seen as support.\u00a0 Additional support on the currency pair is seen near the 10-day moving average at 1.1230. Momentum remains positive with the MACD (moving average convergence divergence) index printing in positive territory with an upward sloping trajectory.\u00a0 Resistance on the currency pair is seen near the December 2015 highs at 1.2570.<\/p>\n<p><a href=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/08\/eur-082515.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-8822\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/08\/eur-082515-300x194.jpg\" alt=\"eur-082515\" width=\"300\" height=\"194\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/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=\"http:\/\/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\">www.forextime.com<\/a><\/p><div id=\"inves-1792334559\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime The EUR\/USD dropped in early North American trading following news that the Chinese central bank reduce their benchmark interest rate.\u00a0 Stock futures soared and oil prices moved higher as the PBOC rushed in to stabilize their stock and currency markets. Chinese official slashed their benchmark lending rate for the fifth time since [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-77356","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77356","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=77356"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77356\/revisions"}],"predecessor-version":[{"id":77361,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/77356\/revisions\/77361"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=77356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=77356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=77356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}