The main currency pair “remains strong” by the end of the week. The current quote in EURUSD is 1.1670. On the eve, there was something to pay attention to. The European Central Bank held a regular meeting at which it left all parameters of monetary policy unchanged. The head of the ECB Christine Lagarde stressed in comments that market expectations for the rate are at variance with the views of the regulator on this issue. This noticeably “cools” the forecasts. Lagarde says that the analysis used by the ECB shows that there are no conditions necessary for a rate hike by the time markets anticipate. Meanwhile, the ECB draws attention to the fact that the slowdown in buying within the PEPP is not a reduction in stimulus.

The ECB believes that the influence of the pandemic on the economy has weakened, the economic system is growing, but its impulse has nevertheless decreased. By the end of the year, the rise in GDP should exceed pre-crisis levels, according to the ECB.

The opinion about inflation is pretty standard. Until the end of the year, the consumer price index will continue to grow, but will decline in 2022. Meanwhile, an increase in energy prices can reduce buying activity.

Generally, the meeting was quite standard, and the ECB did not give any clear signals about its readiness to tighten monetary policy – even the contrary. The euro remained stable, but only until the release of US data. The American economy grew by 2.0% in the third quarter against the forecast of an increase of 2.7% and the previous fact of an increase of 6.7%. Personal consumption accounted for only 1.6% against an increase of 12.0% in the second quarter. The statistics were disappointing because they cast doubt on the Fed’s decisiveness at the November meeting. It will take place on November 2-3. The US dollar fell sharply in response to the publication of statistics.