Euro holds as market absorbs ECB's decision and Draghi's statements

Euro stabilized against US dollar on Tuesday as markets absorbed the ECB's decision and hints as well as its chairman, Mario Draghi's remarks.

The ECB today decided to set the interest rate at 0.0% unchanged and hinted that it would be cut in the future and hinted that a new quantitative easing program could be injected.

Draghi said that inflation in the euro area is still low, which calls for the possibility of a rate cut and also pointed out that the recovery of the economy is weakly possible, but at the same time, it is unlikely to fall under the weight of the recession.

Draghi stressed the existence of problems related to the trade war and its pressure on the economy in the euro area, stressing that the ECB does not target a specific exchange rate for the Euro.

In terms of trade, by 17:52 GMT, EUR/USD steadied at 1.1143, the highest level at 1.1189, while the single European currency recorded the lowest price at 1.1104.