Mario Draghi, President of the ECB, is scheduled to deliver his remarks on the bank’s monetary policy decision in a press conference at 12:30 GMT.
ECB Preview: 12 Major Banks expectations from April meeting.
Most of the researchers and economists are forecasting, that the ECB will likely remain on hold this month, after the dovish turn in March. In addition, they are expecting that the ECB will likely further push out its forward guidance on the period of unchanged policy rates and ongoing reinvestments, while Draghi is likely to strike an overall cautious tone.
EUR/USD testing weekly highs near 1.1280 ahead of ECB, FOMC.
Following Tuesday’s small pullback, EUR/USD has now resumed the upside and is now flirting with weekly highs in the 1.1280 region.
About ECB’s press conference
Following the ECB ´s economic policy decision, the ECB President gives a press conference regarding monetary policy. His comments may influence the volatility of EUR and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the EUR, whereas his dovish view is considered as negative, or bearish.