On July 18, 2024, the European Central Bank (ECB) announced its interest rate decision. The ECB decided to keep the key interest rate at the current level, which was in line with the expectations of most analysts. At the same time, the regulator stressed its commitment to maintaining economic stability in the face of ongoing inflation and economic uncertainty. In an accompanying statement, the ECB also indicated its readiness to take additional measures to ease monetary policy if necessary.

The euro reacted with a decline against the US dollar, thereby returning inside the range between the zones around $1.0650 and $1.0950.
Investors and traders should remain attentive to further statements by the ECB and the Fed, as well as monitor the development of economic indicators and the geopolitical situation in order to better understand the future directions of the EUR/USD pair. However, this is more about medium-term planning horizons. Intraday traders should take such news to a greater extent — as a catalyst for the emergence of volatility in the market and the emergence of new opportunities for trades.