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Dovish Draghi? Doesn’t convince EUR/USD – jumps 80 pips

Draghi tries to convince markets that they are not talking about tapering but does say they will talk about the next moves in the autumn. The ECB PResident finds himself explaining the communications, trying to explain that “we are not there yet” regarding inflation.  

Markets don’t buy it. The next move is tapering and the situation is improving. EUR/USD is shooting higher.

Update:  EUR/USD leaps to highest since 2015 on Draghi, Trump trouble

Follow the live  blog and live coverage of the event:

Draghi Live blog July 2017 – as it happened

ECB Live coverage July 2017 – as it happened

Trade safely!

July 2017 ECB background

The President of the European Central Bank meets the press after they left interest rates unchanged. Markets were anticipating any kind of hint towards the next move of the ECB, namely QE tapering. An announcement is expected in September.

EUR/USD retreated from the highs seen earlier in the week ahead of the event.

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.