News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • I don't think you could make a chart more technically provocative for me than what the $SPY S&P 500 ETF is offering up. That said, doesn't have to break and follow through has been notoriously scarce on the downside https://t.co/vqrlhu7AwC
  • #Nasdaq Tanks on Rising U.S. Yields, ARKK Appears to Confirm a Double Top Pattern #trading $ARKK $NDX https://t.co/lNlEsJnEyk
  • #Nasdaq Tanks on Rising U.S. Yields, ARKK Appears to Confirm Double Top Patter #trading $ARKK $NDX https://t.co/lNlEsJnEyk
  • I'm all for the diversify, but we are missing some steps between A and Z here...
  • Seeing articles show up in my search results that are obvious plants from traditional investment firms trying to get the new generation to open the traditional and passive account types they operate https://t.co/xGoaGqHpyg
  • The options market can be an excellent place to express trading ideas, as it presents numerous ways to structure trades with various risk profiles. Learn to trade the Options market with DailyFX. Download your free guide here! https://t.co/B78Mn99fU0 https://t.co/EpUMWMSGWO
  • On this week's Macro Setup @HathornSabin discusses with @GuyAdami & @RiskReversal the September stock swoon, rate rampage, and dollar dominance. Check it out! https://t.co/k68k2UP7rr https://t.co/0kGvdXWrDK
  • Fed's Bostic: - Any decision on a central bank digital currency is a long way off - Taper is warranted if current trends continue
  • Heads Up:🇺🇸 Fed Bostic Speech due at 19:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-09-28
  • Canadian #Dollar Outlook: $USDCAD Snaps Five-Days Down- Reversal Risk - https://t.co/O2MYTxe7bE https://t.co/tqIZUjE7pZ
Euro Higher on Draghi, ECB Optimism on Price Levels and Growth

Euro Higher on Draghi, ECB Optimism on Price Levels and Growth

Gregory Marks,

Draghi Comments:

-All ECB rates on hold, key benchmark remains 0.25%

-ECB is ready to consider all instruments available to the central bank

-ECB has had broad discussions on a rate cut, other measures

Credit Markets:

-ECB is monitoring money-market volatility closely

-Draghi says credit and monetary dynamics are subdued

-Weak lending reflects current credit risks and adjustment

Risks:

-Emerging market uncertainty, geopolitical risks could impact growth and recovery

-Downside risks to inflation are limited

-Inflation risks are broadly balanced

Economy/Forecasts:

-Expectations for inflation confirm the need for continued accommodative policy

-Rates will remain at 0.25% or lower for an extended period of time

-Increase in PMI services is good for job creation

-Forecasts assume declining oil prices

-Forecasts assume unchanged exchange rate

Euro:

-Exchange Rate is not a policy target

-Rate is very important for growth and inflation

Mario Draghi of the European Central Bank continued to remain optimistic at the March meeting about Euro-Zone prospects moving forward and even went as far as to raise 2014 GDP forecasts by a tenth of a percent. At the same time, the ECB lowered 2014 inflation forecasts from 1.1% to 1.0% while projecting a strong recovery towards the 2% target in the fourth quarter of 2016. Striking a more direct tone, the central bank head made clear that the situation in Europe is different from that of Japan’s and that the ECB is willing and able to consider all available instruments to combat risks moving forward.

Update following Draghi's presser and more forecasts here.

ECB Forecasts

On 3/6/14

Prior

2016 GDP

1.8%

-

2015 GDP

1.5%

1.5%

2014 GDP

1.2%

1.1%

2016 Inflation

1.5%

-

2016 (4Q) Inflation

1.7%

-

2015 Inflation

1.3%

1.3%

2014 Inflation

1.0%

1.1%

March 6th, 2014 ECB Rate Decision EUR/USD (1-Minute Chart)

Euro_Higher_on_Draghi_ECB_Optimism_on_Price_Levels_and_Growth_body_Picture_1.png, Euro Higher on Draghi, ECB Optimism on Price Levels and Growth

Source: FXCM Marketscope

Gregory Marks, DailyFX Research Team

Keep up to date on event risk with the DailyFX Calendar.

How does a Currency War affect your FX trading?

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES