The ECB announced QE. Buying sovereign bonds in a Quantitative Easing program finally happened, and it happened big time. Draghi seemed determined and rightfully so. The initial market reaction was somewhat hesitant but the euro began it’s slide. Is that all? Probably not. Here are 5 points about why the move is huge and why it should impact EUR/USD quite severely: Big flows: 60 billion is more than estimates of 30-40 billion and 50 billion leaked just on the previous day. As Draghi stressed, the flows are certainly meaningful. Big size: With the intended end date of September 2016, the program has an intended size of over 1 trillion, at the very top end of market expectations. Initial staff preparations were reportedly only at around 500 billion and the markets were moving towards 750 billion. Thomas Jordan of the SNB probably knew about this last week. Basically open ended: While it has an intended end date, the ECB is committed to act until inflation expectations are back to the desired levels of 2% in a sustainable manner. What is sustainable? How are inflation expectations exactly defined? The program could basically stay on auto pilot for a long time before some kind of tapering is announced. Risk sharing is minor: The compromise to appease the Germans was basically dismissed by Draghi. As long as the euro is stable, the topic of risk sharing and a decentralized move is not really that important. And while Greece is currently excluded, it could be included when Greece exits the program. Broad agreement: There was a consensus on the need to act and a unanimous agreement that QE is a legitimate monetary policy tool. Draghi did manage to win over the Germans right here. What do you think? More: EUR/USD Rapid Slide Could Continue Until Parity – RBS Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next Canadian dollar: Another rate cut could come from the Yohay Elam 8 years The ECB announced QE. Buying sovereign bonds in a Quantitative Easing program finally happened, and it happened big time. Draghi seemed determined and rightfully so. The initial market reaction was somewhat hesitant but the euro began it's slide. Is that all? Probably not. Here are 5 points about why the move is huge and why it should impact EUR/USD quite severely: Big flows: 60 billion is more than estimates of 30-40 billion and 50 billion leaked just on the previous day. As Draghi stressed, the flows are certainly meaningful. Big size: With the intended end date of September 2016, the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.