The EUR/USD pair consolidated losses on Thursday, extending its weekly slide to 1.0714 after the European Central Bank (ECB) decided to keep rates unchanged.
EUR/USD Current price: 1.0741 The European Central Bank kept the monetary policy unchanged, as expected. United States macroeconomic data was encouraging, providing a bit of relief to financial markets. EUR/USD consolidates losses near the yearly low, retains the bearish stance. The EUR/USD pair consolidated losses on Thursday, extending its weekly slide to 1.0714 after the European Central Bank decided to keep rates unchanged. The Marginal Lending Facility Rate was confirmed at 4.
The news brought some relief and pushed the US Dollar marginally lower as stock markets recovered some of the ground lost on Wednesday. As ECB'sLagarde kick starts her speech, EUR/USD hovers around 1.0740, little changed on a daily basis. Stock markets got a modest boost, which limited US Dollar demand. The pair, however, is yet to react to the ECB's decision EUR/USD short-term technical outlook From a technical point of view, the EUR/USD pair retains its bearish stance.
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