Following ECB Press Conference, Euro slid against its counterparts - TopicsExpress

Following ECB Press Conference, Euro slid against its counterparts with a slide of 90 points in EURUSD – a six week lowest. Indications are that Eurozone rates will remain low with aim of supporting the Eurozone recovery from the recession it suffered. ADP Non-Farm Employment Change figure in the US came out at 176K, a lower than expected. Sterling reached a four month high level against Euro, as Bank of England held both interest rate and bond-purchasing target unchanged. Gold price fell today as well to the lows of $1370 per ounce. Signs of improved economic performance and strengthening dollar are having its effect on Gold price as well as the easing on Middle East political situation, following Russian opposition to US military strike plans.

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