Single Currency Keeps Progressing
The single currency has broadly increased, reaching the maximum of 23 months. Euro/dollar is now trading at 1.1650. US unemployment claims declined to the nine-week minimum of 233K. Philly Fed Manufacturing Index reduced to the yearly minimum of 19.5. Yesterday, European Central Bank had its meeting. The Bank will hold the main refi rate at 0%, the marginal lending rate at 0.25% and the deposit rate at -0.4%. Asset purchase program will stay at 60 billion euro and it should expire somewhere in December. Mario Draghi stated that the Bank will start considering its further actions with the QE program in September. The President sounded pretty optimistic about future of the economy.