|11-07-2014, 12:41 PM||#1|
Euro rises against dollar ahead of ECB meeting
The euro rose against the U.S. dollar on Thursday ahead of the European Central Bank (ECB) meeting, expected to leave monetary policy unchanged for November.
On the other hand, financial markets speculations are still running high on the possibility that the ECB will follow the footsteps of the Bank of Japan and expand its stimulus program to support growth and inflation in the euro zone.
The focus today is turned to the ECB’s Mario Draghi press conference, which could include signals about the bank’s intention to add more stimulus plans, along with comments about the troubled banks in the region.
Euro is still looking to fresh hints from the ECB today, ignoring negative data from Germany, where monthly factory orders rose by a soft 0.8% last October compared with the 2.2% expectations.
The euro is focusing now on the ECB outcome and Draghi’s press conference, despite the negative data released by the German economy, the largest in the euro zone.
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