The day before, it was exactly a year since the ECB launched a large-scale pandemic emergency purchase program and the head of the Central Bank Christine Lagarde made a press conference in honor of this event. The head of the ECB said that the current situation is substantially different from last year for the better. In the first quarter, the ECB expects a 0.7% reduction in the eurozone’s GDP, after which economic growth will begin, which should accelerate in the second half of the year.

On the eve, the Fed published fresh statistics on the change in assets on the balance sheet, and we can compare it with the statistics of the ECB. The Fed’s balance sheet rose $113.6 billion over the past week to a new historical maximum of $7.69 trillion. The ECB balance also renewed its all-time high, but added €17.1 billion over the week. Inasmuch as the Fed prints money much faster than the ECB, this is a negative signal for the dollar.

Investment idea: Buy 1.1905/1.1885 and take profit 1.1985.