The European Central Bank is scheduled to have a meeting today, that will address monetary policy and interest rates in the Eurozone.

The tone ahead of the meeting is cautious, and investors all over Europe are eager to find out the damage to economic growth after the extended lockdowns in the 1st quarter.

Change in the interest rates has a direct effect on the Euro currency. A higher than expected rate is positive for the EUR, while a lower than expected rate is negative for the EUR. While the monetary policy influences how much a person has to pay to borrow and how much interest you receive for your savings to ensure price stability.

Keep your eyes on the meeting if you are interested in trading the EUR pairs!