European Central Bank announced unconventional measures to boost the economy. The Euro increased sharply.

[RTFX-Trading]

European Central Bank announced unconventional measures to boost the economy. The Euro increased sharply.

The central bank has decided to intervene decisively: In addition to cutting the “refi” rate by 25 basis points to 1%. The European Institute has announced that it would buy bonds issued by companies in the euro area and that it would lend to banks without limitation over a period of 12 months. These two measures, more commonly known as non-conventional measures, are intended to revive the European economy.

The market has welcomed these “Quantitive easing” measures with enthusiasm. The ECB finally follows the steps taken by the Bank of England, the U.S. Federal Reserve and Swiss National Bank. The euro was up 1.5% against the greenback to $ 1.3430, 1.60% against the pound sterling to 0.8910 and 1.75% against the Japanese yen to 133.

The next highly anticipated events are the publication of the "Stress test" report tonight at 23:00CET and the US employment report, tomorrow at 14:30CET.

Emman Xuereb
RTFX Ltd
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