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EuroStoxx50: after the ECB decision

Technical analysis and trading recommendations -

After publication in the 12:45 (GMT) the ECB's decision on monetary policy the euro fell against the dollar by 1.5% to 1.0825. European stocks surged. StoxxEurope600 added 2,5%, EuroStoxx50 rose from the opening day on 108 points to 3123.0, ie 3.5% after published solutions. Gold has fallen in price by almost 1.0% to 1238 dollars per ounce.

The basic interest rate has been reduced by 0.05% to 0.00%, the interest rate on deposits - by 0.1% to -0.4%. Bond repurchase program has been increased by 20 bn. to € 80 billion per month, more than 10 billion, than the average expected by market participants.

However, even stronger than before increased, indexes fell after ECB President Mario Draghi in a subsequent press conference, he said that the Eurozone economy additional stimulus in the near future is not necessary.

The EUR / USD rose from the lows reached 395 points to the level of 1.1217. European, and then by the US indices have collapsed.
Today, with the opening of the trading day, world indices grow, and US indices almost returned to the level close to yesterday's highs.

These measures, including the reduction of interest rates and an increase in monthly asset purchases, meet market expectations and the need to support economic growth and inflation in the Eurozone.

However, if you believe M.Dragi, further stimulus measures should not be expected from the ECB. However, if indeed these measures will be enough to support the economy and inflation, the European indices continue to rise.

Friday, 11 Mar, 2016 / 12:50

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