ECB president Mario Draghi made some strong statements: the ECB is ready to buy bonds and that Germany should understand that the ECB has a pan-European mandate. He seems to “stick it” to the Germans. These strong statements come from an interview that Draghi gave to the German paper Die Zeit on the day he is meeting with German Chancellor Angela Merkel and finance minister Wolfgang Schäuble in Berlin. Update: EUR/USD breaks below the double bottom on Draghi, OMT Update: OMT may be legal says EU court aide – green light for QE? The head of the European Central Bank did acknowledge that there are different views about how to meet the mandate, but insisted that his institution is unanimous in its determination to reach it. He also brushed away the persistent rumors that he is set to quit the central bank and take the post of the president of Italy. The current president is set to retire very soon, and rumors have been swirling. Also two of his colleagues supported QE: Italian ECB member Visco said that they should counter deflation risk with “major asset purchases”. Austrian ECB member Nowotny said that it “makes sense for the ECB to act next week”. There were reports of €500 billion QE program. This is basically priced in by the markets, which have already sent the euro down. A lack of an announcement would boost the euro while an open-ended QE3 style program would send the euro plunging down quite heavily. However, this is unlikely. EUR/USD dipped on the initial comments but is now awaiting the non-binding consultation of the European advocate regarding the legality of the OMT. More: 3 reasons to sell EUR/USD targeting 1.10 – Deutsche Bank 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 EUR/USD DailyForex News Today: Daily Trading News share Read Next OMT may be legal says EU court aide – green light for QE Yohay Elam 8 years ECB president Mario Draghi made some strong statements: the ECB is ready to buy bonds and that Germany should understand that the ECB has a pan-European mandate. He seems to "stick it" to the Germans. These strong statements come from an interview that Draghi gave to the German paper Die Zeit on the day he is meeting with German Chancellor Angela Merkel and finance minister Wolfgang Schäuble in Berlin. Update: EUR/USD breaks below the double bottom on Draghi, OMT Update: OMT may be legal says EU court aide - green light for QE? The head of the European Central Bank… 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.