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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here:
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here:
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
ECB President Draghi Confirms 'Substantial Monetary Accomodation'

ECB President Draghi Confirms 'Substantial Monetary Accomodation'

Nick Cawley, Strategist

Talking Points

- Current ECB policy is still needed for inflationary pressures to build.

- The single-currency remains under downside pressure.

- See the DailyFX Economic Calendar and see what live coverage for key event risk impacting FX markets is scheduled for next week on the DailyFX Webinar Calendar.

ECB President Mario Draghi has re-iterated the need for accommodative monetary policy at a speech at The Hague, despite the economic backdrop improving, ahead of next month’s ECB policy meeting (June 8). The Netherlands is becoming increasingly worried that saver rates are too low and that the housing market bubble continues to inflate.

Draghi said that while the economic recovery is becoming increasingly solid it is too early to declare success.” He added,Underlying inflation pressures continue to remain subdued and have yet to show a convincing upward trend. The domestic drivers of inflation, namely wages, are not yet responding to the recovery and the narrowing output gap. Maintaining the current very substantial degree of monetary accommodation is still needed for underlying inflation pressures to build up and support headline inflation in the medium term.”

Draghi concluded that Member States must also pursue policies that push economic growth and that the EU should also “further strengthen the architecture of Economic and Monetary Union in a way that fully reflects the interdependence among the euro area economies.”

And it is not just the Dutch pushing for a change of European monetary policy. German central bank President Jens Weidmann recently said that the ECB should start to tighten policy as German headline inflation hit 2%, cutting into saver’s returns. Higher rates, and by virtue a stronger EUR, would also ease the pressure on Germany, whose record trade surplus is provoking growing concerns, both in and outside the EU. According to the US trade advisor Peter Navarro, the weak EUR has been ‘very unfair’ to the US, adding that Germany had used a ‘grossly undervalued euro to exploit’ the US and the EU.

The already weak EUR barely moved on Draghi’s prepared statement, waiting for the Q&A session to get further colour to the President’s statement.

Chart: EURUSD Five-Minute Timeframe (May 10, 2017)

ECB President Draghi Confirms 'Substantial Monetary Accomodation'

Chart by IG

--- Written by Nick Cawley, Analyst

To contact Nick, email him at

Don't trade FX but want to learn more? Read the DailyFX Trading Guides

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