No appetite for ECB rate cut, Euro is long-term positive above 1.11 – Hantec Markets

It’s the European Central Bank (ECB) day again. However, the appetite for further ECB easing is pretty much zero this time, says Richard Perry, Market Analyst at Hantec Markets.

Perry adds further that the Fed is shying away from doing the dirty work on behalf of the ECB and BOJ. He then goes on to present his view on the major markets.

A must watch segment as the levels discussed by Perry would come-in handy during the 45-minute window between ECB rate decision and Draghi’s press conference.

Key points

Euro – On long-term basis it is positive above 1.11 figure. Broad based USD weakness is the big mover of this pair. Doesn’t look Euro is going to down much unless Draghi pulls a rat out of his hat

Gold – rising channel intact, holding well above $1300. Momentum indicators are trying to lead gold prices higher

Silver is pretty much gold on steroids, momentum indicators trying to pull price higher