The minutes of the ECB meeting in March looks positive to the monthly purchase of bonds. Against the background of weak economic data from the US-economy, the euro on Holy Thursday rose significantly.
ECB-Board evaluates bonds purchase program as a success
The decision from March for the bond-buying program is evaluated by a by a large majority in the Governing Board cautiously optimistic. According to the central bankers, the program in which it is planned to monthly buy bonds worth 60 billion euros till September 2016, will encourage bank lending, and thus stimulate the economy in the euro zone. The goal is to lead the economy to a sustainable recovery, and raise inflation in the euro zone at the level near 2 percent. But there were also voices that doubted the success of the program. So said the German ECB-Director Sabine Lautenschläger in the "WIrtschaftswoche" that she has a doubt, to achieve the desired effect of the program at the low interest rates in the euro zone.
Investor confidence in the euro strengthened slightly
After the economic data from the US economy last disappointed, investor confidence in the euro zone seems to grow before the days of Easter. Following the publication of the minutes of the Euro increased in nearly all peers, and the pair EUR/USD climbed well above the mark of 1.08 US dollars. Overall, the pair showed an increase of 1.10% at 1.8081 USD. Even against the Japanese yen, the euro was up significantly at 1.32%. A euro currently costs 130.30 yen.
After poor economic data, the US dollar lose for the second day in a row. Against the Swiss franc, the dollar depreciated 0.77% at $ 0.9598, and against the Canadian dollar 0.44% at 1.2567 CAD. Although closed to European markets on Good Friday, the expected figures for the US labor market may affect the price yet.