ECB Cuts Rates but Disappoints Investors

Source: ForexYard ECB Cuts Rates but Disappoints Investors During yesterday's press conference European Central Bank President Mario Draghi laid out 3-pillars for the “Fiscal Compact”. He also stressed the ECB will not use QE nor will it purchase unlimited amounts of European bonds. The EUR fell below the 1.33 level following the disappointing comments. Economic News USD – US Data Releases Go Unnoticed All eyes are on Europe today with the European economic summit in Brussels. Yesterday US weekly unemployment claims were overshadowed by the ECB press conference. The data showed 381k new jobless claims were filed on expectations of 397k. Inventories for the month of November rose 1.6% on consensus forecasts of a 0.4%. This hints at . . . → Read More: ECB Cuts Rates but Disappoints Investors