3 Reasons Behind EURO’s V-Shaped ECB Reversal

//3 Reasons Behind EURO’s V-Shaped ECB Reversal

The European Central Bank went above and beyond today in rolling out a massive stimulus package. Their actions not only reflect their desperation but also their resolve to boost the Eurozone economy and mitigate the risk of recession. These were the five steps taken today and when they were first announced, the combination of efforts drove EUR/USD to a low of 1.0927. The ECB also lowered their inflation and GDP forecasts for 2019 and 2020. According to ECB President Draghi, their actions were prompted by 3 elements – a more marked slowdown in the Eurozone economy, the persistence of downside risks and their baseline … (full story)