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.

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
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 70.99%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/e6YUDJEZ1A
  • Germany's Covid death toll rises above 50,000 - BBG
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.49% 🇦🇺AUD: 0.33% 🇬🇧GBP: 0.21% 🇯🇵JPY: 0.13% 🇨🇦CAD: 0.13% 🇨🇭CHF: 0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1UDJQe7C0f
  • Heads Up:🇳🇱 Consumer Confidence (JAN) due at 05:30 GMT (15min) Previous: -20.0 https://www.dailyfx.com/economic-calendar#2021-01-21
  • Heads Up:🇳🇱 Unemployment Rate (DEC) due at 05:30 GMT (15min) Previous: 4% https://www.dailyfx.com/economic-calendar#2021-01-21
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.59% France 40: 0.41% US 500: 0.39% Germany 30: 0.39% Wall Street: 0.25% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/AO1cjIg0PC
  • Want to make trading decisions with confidence? Download you free guide to avoid hesitations in your trading decisions.https://t.co/00I3lH90OD #DailyFXGuides https://t.co/PzNI79hehK
  • Crude oil prices pulled back slightly after API reported an unexpected 2.56 million-barrel build in US crude inventories for the week ending Jan 15th. Markets anticipated a 1.17-million-barrel drop initially. https://t.co/BKw1hyewt9
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/RMHzAmEuq2
  • Noguchi nominated for BOJ board by Japan's government - BBG
Draghi Comments on Exchange Rate, QE Prompt Euro Weakness

Draghi Comments on Exchange Rate, QE Prompt Euro Weakness

Gregory Marks,

Talking Points:

-ECB leaves rates on hold at 0.25%, Marg. Lending Fac. at 0.75%, Dep. Fac. Rate at 0.00%

-ECB says one QE available, was discussed at the meeting

-ECB discussed cuts to main rate and deposit rate

-Council unanimous on using unconventional tools if they are needed

-Exchange rate is very important for price stability

-Narrowing rate corridor was also discussed by the council

-Such tools must be in line with mandate

-ECB has not yet finished with conventional measures

-ECB ready to act swiftly if needed

-Risks stated: financial, EM, geopolitical

-ECB does not exclude further monetary policy measures

-ECB watching money-market developments closely

-Inflation to get closer to 2% by the end of 2016

-Inflation to pick up ‘somewhat’ in April

Mr. Draghi remained upbeat at the April ECB meeting press conference once more and remained confident in regards to increasing price levels closer to the 2% target over the coming months and years. Nevertheless, the central bank head did comment on possible moves by the ECB to engage in QE measures if they were absolutely needed. Although the Euro saw strength amid Draghi’s initial statements, comments on QE and the Euro exchange rate helped add to downward pressure. When the central bank head mentioned negative deposit rates and a narrowing of the rate corridor, the Euro took out intraday lows towards the 1.37 level.

EUR/USD April 3rd, 2014 (5-Minute Chart)

Draghi-Comments-on-Exchange-Rate-QE-Prompt-Euro-Weakness_body_Picture_1.png, Draghi Comments on Exchange Rate, QE Prompt Euro Weakness

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