The EURO/USD drops as ECB left interest rate unchanged

Despite the expectations that the European Central Bank will raise its interest rate, eventually the Interest rate of ECB remained unchanged at 1.25%.

The financial markets reacted very promptly to the news and EURO/USD fell very rapidly.

Furthermore, major commodities, including crude oil and gold prices fell very sharply. There is probably more than one reason for such a rapid drop in major commodities and the ECB decision is probably only one factor among many others.

The current crude oil prices are traded with rapid falls:

The current Nymex crude oil price, short term futures (June 2011 delivery) is traded at 99.08 USD / barrel, a 10.16 USD/b decrease or 9.30%, as of 20.53*.

The Dated Brent spot crude oil inclines by 11.10$/b and it is at 109.53 USD / barrel as of 21.02*.

(* GMT)

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