Eleanor Bridger

Market Analyst

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Update: ECB Extends Tapering Program

By Eleanor Bridger  |  26/10/2017 14:57
The European Central Bank announced on Thursday that it would extend its tapering program for longer. It plans to do this at a lower amount of purchases, while keeping its interest rates at the same level.

In January, the ECB will reduce monthly purchases from the current €60 billion to €30 billion. They’ve said they will extend those purchases to “the end of September 2018, or beyond”. The ECB has also left its benchmark interest rate unchanged - at a record low 0.0%.

After the ECB President Mario Draghi’s press conference, the euro declined, breaking below the $1.18 level. EUR/USD was traded at 1.1763 from around 1.1807. While EUR/GBP remained relatively steady, it was at 0.8907 from 0.8978.

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Author's Other Opinion & Analysis

  • Forecasts of Oil-Stock Drop: Data Released Tonight
    By Eleanor Bridger  |  24/10/2017 17:48

    At 21:30 this evening, official data from the American Petroleum Institute (API) will be released amid forecasts of an oil-stock drop. Which should reach around 2.5 million barrels and mark the fifth consecutive weekly decline.

  • ECB May begin normalising Policy
    By Eleanor Bridger  |  24/10/2017 17:44

    The ECB is expected to announce whether it plans to continue its quantitative easing program or slowly unwind it on Thursday

  • Market Alert: Dollar Steady/Fed Leader Speculation
    By Eleanor Bridger  |  24/10/2017 17:41

    The dollar was trading highs against an array of other major currencies on Tuesday. This comes as President Donald Trump told reporters on Monday that he is “very, very close” to deciding who will lead the Fed.  

  • How are US stocks performing in Q3?
    By Eleanor Bridger  |  17/10/2017 15:35

    Investors are focused on the US earnings season, it’s growth is being driven by tech,energy and financial giants - accounting for more than 70% growth between them.

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