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As expected the ECB delivers a 0.25% rate cut- EUR/USD rises to new 2-025 highs
The European Central Bank (ECB) have just announced what pretty much everyone expected and that was a 0.25% reduction in all three benchmark rates. The deposit facility rate has been cut to 2.5% from 2.75%. The EUR/USD was pretty pivotal and hovering around the 1.0800 handle leading into this decision. The price action since has seen it dip slightly, but immediately reversed as the accompanying statement has been tweaked to suggest that policy is not so restrictive. That could infer this might be the last cut from the ECB for the foreseeable future. That is not guaranteed though, but it has lifted the EUR/USD to a new 2025 high above 1.0840, as the markets eye this as a hawkish outcome
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US stock futures turn lower again- S+P 500 falls to indicate an opening close to 5,600
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