{"id":76084,"date":"2024-01-25T10:42:05","date_gmt":"2024-01-25T08:42:05","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=76084"},"modified":"2025-12-10T09:34:16","modified_gmt":"2025-12-10T07:34:16","slug":"ecbs-interest-rate-decision-due-out-today","status":"publish","type":"post","link":"https:\/\/www.ironfx-cn.com\/id\/ecbs-interest-rate-decision-due-out-today\/","title":{"rendered":"ECB\u2019s interest rate decision due out today"},"content":{"rendered":"<p>The ECB\u2019s interest rate decision is due out today. The majority of market participants appear to expect the bank to remain on hold, with EUR OIS currently implying a 99.88% for such a scenario to materialize. We tend to agree with the consensus that the bank may remain on hold during today\u2019s monetary policy meeting, as such we turn our attention to the bank\u2019s accompanying statement and the post-decision press conference. In our opinion, the better-than-expected preliminary manufacturing PMI figures for Germany, France and the Eurozone as a whole for January, could provide the bank with some leeway should ECB policymakers opt to push back on market expectations of rate cuts. Such a scenario could support the EUR, whereas should the bank\u2019s statement appear predominantly dovish in nature, it could weigh on the EUR. The US S&amp;P Preliminary Manufacturing and Services PMI figures for January came in better than expected during yesterday\u2019s American session. The better-than-expected PMI figures may imply that the US economy remains resilient and appears to be expanding in both sectors. Therefore, the apparent economic resiliency from the US, appears to have provided support for the dollar. The UK\u2019s Preliminary PMI figures for January came in better than expected, which may have provided support for the pound. In the US Equities markets, we note that Tesla (#TSLA) announced its earnings for Q4 2023, with the company\u2019s CFO stating that \u201cIn 2024, our volume growth will be lower\u201d, which could weigh on the company\u2019s stock price.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"ECB and US GDP rate eyed\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/o-rrLTYAW2E?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>GBP\/USD appears to be moving in a sideways fashion, after failing to break above the 1.2760 (R1) resistance line. We maintain a sideways bias for the pair and supporting our case is the RSI indicator below our chart which currently registers a figure of 50, and our sideways moving channel which was incepted on the 14<sup>th<\/sup> of December 2023. For our sideways bias to continue, we would like to see the pair remain confined between the 1.2610 (S1) support level and the 1.2760 (R1) resistance line. On the other hand, for a bullish outlook, we would like to see a clear break above the 1.2760 (R1) resistance line, with the next possible target for the bulls being the 1.2870 (R2) resistance ceiling. Lastly for a bearish outlook, we would like to see a clear break below the 1.2610 (S1) support level, with the next potential target for the bears being the 1.440 (S2) support base.<\/p>\n\n\n\n<p>EUR\/USD appears to be moving in a sideways fashion, with the pair having failed to break above the 1.0925 (R1) resistance line. We maintain a sideways bias for the pair and supporting our case is the RSI indicator below our chart which currently registers a figure of 50, implying a neutral market sentiment. For our sideways bias to continue, we would like to see the pair remain confined between the 1.0830 (S1) support level and the 1.0925 (R1) resistance line. On the other hand, for a bullish outlook, we would like to see a clear break above the 1.0925 (R1) resistance line, with the next possible target for the bulls being the 1.1000 (R2) resistance ceiling. Lastly, for a bearish outlook, we would like to see a clear break below the 1.0830 (S1) support level, with the next possible target for the bears being the 1.0745 (S2) support base.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>Today in the European session, we note the release of Germany\u2019s Ifo indicators for January, Norway Norgesbank\u2019s interest rate decisions, from the UK the CBI distributive trades for January, Turkey CBT\u2019s interest rate decision and Canada\u2019s business barometer for January. In the American session, we note the release of the US durable goods orders growth rate for December, the weekly initial jobless claims figure and we highlight the advanced GDP rate for Q4. During tomorrow\u2019s Asian session, we get from Japan, Tokyo\u2019s CPI rates and the UK\u2019s Consumer confidence figure both for January while on the monetary front, we note the release of the BoJ\u2019s December meeting minutes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-gbp-usd-h4-chart\"><strong>GBP\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2024\/01\/image-105.png\" alt=\"Technical chart displaying EUR\/USD trends alongside ECB interest rates and GBP\/USD fluctuations.\" class=\"wp-image-76085\" title=\"gbp-usd -four-hour -chart\"\/><\/figure>\n\n\n\n<p>Support: 1.2610 (S1), 1.2440 (S2), 1.2270 (S3)<\/p>\n\n\n\n<p>Resistance: 1.2760 (R1), 1.2870 (R2), 1.2990 (R3) <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eur-usd-h4-chart\"><strong>EUR\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2024\/01\/image-106.png\" alt=\"Graphical representation of the EUR\/USD exchange rate, focusing on the effects of ECB interest rates on trading patterns.\" class=\"wp-image-76086\" title=\"eur-usd- four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.0830 (S1), 1.0745 (S2), 1.0665 (S3)<\/p>\n\n\n\n<p>Resistance: 1.0925 (R1), 1.1000 (R2), 1.1080 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1912\" height=\"464\" src=\"\/wp-content\/uploads\/2024\/01\/image-107.png\" alt=\"\" class=\"wp-image-76088\" title=\"benchmark-25-01-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1094\" height=\"652\" src=\"\/wp-content\/uploads\/2024\/01\/image-110.png\" alt=\"\" class=\"wp-image-76091\" title=\"table-25-01-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1475\" height=\"1131\" src=\"\/wp-content\/uploads\/2024\/01\/image-108.png\" alt=\"\" class=\"wp-image-76089\" style=\"width:610px;height:468px\" title=\"morning-releases-25-01-2024\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1244\" height=\"778\" src=\"\/wp-content\/uploads\/2024\/01\/image-109.png\" alt=\"\" class=\"wp-image-76090\" title=\"morning-releases-25-01-2024\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:research_team@ironfx.com\" target=\"_self\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>","protected":false},"excerpt":{"rendered":"<p>The ECB\u2019s interest rate decision is due out today. The majority of market participants appear to expect the bank to<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-76084","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ECB interest rate decision: Outlook for EUR<\/title>\n<meta name=\"description\" content=\"ECB interest rate decision due out today with markets watching statement and press conference for clues on EUR direction and rate cuts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/id\/wp-json\/wp\/v2\/posts\/76084\/\" \/>\n<meta property=\"og:locale\" content=\"id_ID\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECB\u2019s interest rate decision due out today\" \/>\n<meta property=\"og:description\" content=\"ECB interest rate decision due out today with markets watching statement and press conference for clues on EUR direction and rate cuts.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-cn.com\/id\/ecbs-interest-rate-decision-due-out-today\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-25T08:42:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-10T07:34:16+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/ecbs-interest-rate-decision-due-out-today\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/ecbs-interest-rate-decision-due-out-today\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"ECB\u2019s interest rate decision due out today\",\"datePublished\":\"2024-01-25T08:42:05+00:00\",\"dateModified\":\"2025-12-10T07:34:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/ecbs-interest-rate-decision-due-out-today\\\/\"},\"wordCount\":765,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"id\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/ecbs-interest-rate-decision-due-out-today\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/ecbs-interest-rate-decision-due-out-today\\\/\",\"name\":\"ECB interest rate decision: Outlook for EUR\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/#website\"},\"datePublished\":\"2024-01-25T08:42:05+00:00\",\"dateModified\":\"2025-12-10T07:34:16+00:00\",\"description\":\"ECB interest rate decision due out today with markets watching statement and press conference for clues on EUR direction and rate cuts.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/ecbs-interest-rate-decision-due-out-today\\\/#breadcrumb\"},\"inLanguage\":\"id\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/ecbs-interest-rate-decision-due-out-today\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/ecbs-interest-rate-decision-due-out-today\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ECB\u2019s interest rate decision due out today\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-cn.com\\\/id\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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