Euro Stabilizes Slightly Ahead of ECB Meeting

Forex News

The single currency has steadied today versus US dollar, after strong losses on Wednesday. The euro/dollar pair is trading at 1.1411, having gained 0.17% on the day.

Markets are focused on the European Central Bank's meeting. The ECB is expected to hold its interest rate flat at 0.00%. The Governing Council may reiterate its forecast that euro-area interest rates ‘would remain at their present levels at least through the summer of 2019.’

Today's data showed, that German Ifo Business Climate dipped to 102.8 in October and marked a 3-month low. The indicator missed the forecast of 103.1 points. The current assessment sub-index fell to 105.9 in October from 106.4, compared to expectations for 106.0. The business expectations index, which measures attitudes toward business prospects over the next six months, dropped to 99.8 in October from 101.0 last month and missed estimates for a reading of 100.3.