Euro Stays Above $1.16 Level

Forex News

The euro rose by 0.11% against the US dollar today. The EUR/USD pair is trading at 1.1654. It is predicted, that the European single currency will remain stable on the last trading day of the week, as economic data from Germany and the Eurozone are not expected. The US will publish data on the Preliminary UoM Consumer Sentiment. It is expected, that the indicator will be reduced to 100.8 points.

The ECB has reduced the quantitative easing program (QE) from 60 to 30 billion euros, starting next year. Nevertheless, the Bank also extended the program until September 2018 due to concerns over inflation, which remain well below the ECB's 2% target. Analysts suggest that if the economic indicators of the Eurozone continue to grow, ECB President Mario Draghi will be under more pressure to tighten the policy.