The European Central Bank conducted their monthly press conference today. The bank rate was left unchanged at it’s record low of 0.50%. Mario Draghi has predicted a euro zone recovery every press conference since winter of 2011.
Draghi reiterated that the bank rate will continue to stay low for an extended period. Talks of a Euro recovery have been common recently, in light of the recent PMI data. Draghi did acknowledge that data today.
Germany’s IFO Business Climate rose to a 16-month-high recently.
In spite of good euro news, the U.S. has been dominated the euro this past week. The EUR/USD is now on it’s way to 1.3100.
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