EURGBP has decreased for the third session respectively after the economic data and development which we saw it today Friday about Eurozone economic and the American economic which is the biggest economic in the world.
Also we saw the biggest euro zone economic shrinking the current account surplus and German current balance other than the expectation during last April, before we witnessed about the second biggest economic a deficits breadth in France government budget and backing down in France industrial production during the same month, and decreasing in Italian unemployment rates during the first quarte.
This came after an hours from the monetary policy makers in the Europe Central Bank of keeping the interest prices in their current zero levels and fixed the interest of depository on their negative levels 0.40%, and the governor of the Europe central bank Mario Draghi remarks about moving in Quantitative facilitation program until the end of the current year 2017 then it extended after that if it’s necessary.
After yesterday bank meeting Draghi said at the press conference that the last economic data for euro zone which includes buying managers index increasing to it highest level since 2011 and backing down in unemployment rates to it lowest levels since 2009 and added about 5 million job in the last three years, reflecting that the economic growth is collecting momentum, and announcing that the bank will raise it expectation about growth and lower it about inflation.
And Draghi said about not discussed the monetary policy makers about the probability of normalisation the monetary policy, and about two members of doing cash management program and it relation with the current inflation, added that the economic and monetary United is not integrated and the bank working on supporting it United, and the cash management program which estimated at about 60 billion EUR monthly moving effectively and has the required flexibility and considers the prices stability in the zone.
Professional Trader and Analyst at TradingBroker.co.uk
Professional Trader and Analyst, economist in Financial and Forex market since 2004.holds an MBA from the American University in Egypt. Mohammed works as an economic writer and technical & fundamental analyst for many international Forex & Binary Options trading companies in both English and Arabic on a daily basis.