As expected, the European Central Bank kept its interest rate unchanged at 1.25%.
According to Forex Crunch in yesterday’s press conference the ECB’s President Jean-Cluade Trichet used the terms “strong vigilance”; this term might be a tip for the future steps of the ECB in the next rate decision. If the inflation rate will start to pick up in the Euro Zone, this might further push ECB to consider raising its interest rate next month.
In the mean time the Euro continues to lose ground as the concerns over the Greek debt continues.
Major commodities on the other hand continue to demonstrate no clear direction as they are traded with mixed trend.
Current Nymex crude oil price, short term futures (July 2011 delivery) is traded up with a 0.52% decrease, and its at $101.41 per barrel as of 10:30*.
Current gold price, short term futures (July 2011 delivery) is traded at $1,543.6 per t oz. a $0.9 increase or 0.06%, as of 10:29*.
Euros to USD is currently traded down at 1.4482 a 0.193% decrease as of 10:29*.
The Canadian exchange rate compared with USD is traded up at 0.9743 a 0.1295% increase as of 10:38*.
For more on this subject:
- Crude oil prices outlook – 9 June
- Gold & Silver Price – Daily Outlook 8 June
- Weekly outlook for June 6 – 10