The European Central Bank’s monetary policy meeting accounts, also known as the meeting minutes, were released yesterday. The minutes, which cover the final monetary policy meeting chaired by Mario Draghi, revealed a call for unity among members.
After the ECB restarted its QE program, there were many dissents within the governing council. The minutes showed that besides unity among the members, there was also a call for patience for the tools to take effect on the economy.
EUR/USD Fails at Resistance
The common currency failed to capitalize on the gains, turning weaker on Thursday. The declines in the EUR/USD now put the bias to the downside. This is consistent with the hidden bearish divergence on the 4-hour Stochastics. The EUR/USD could maintain a sideways range within 1.1062 and 1.1000 levels.