In his prepared statement, Draghi sounds a bit optimistic. He sees both the euro-zone economy and the global economy continuing their growth. This is not fully upbeat, as he also mentions a high level of political and economic uncertainties. In addition, the continued growth is not predicted to exceed pre-crisis levels.
EUR/USD is not really cheered, extending its losses under 1.0570, a support line. Further support awaits at 1.0520, which is a double-bottom.
ECB President Mario Draghi is speaking in Brussels, but fortunately, there is no need to listen to the whole speech as the statement is released in its entirety at 14:00 GMT. He will speak again two hours later, and once again, the report is published in the set time.
EUR/USD had a roller-coaster day: the bigger dollar correction, EUR/USD reached a peak at 1.0685, but this did not last for too long. Apparently, this was just a larger breather, more than a dead-cat-bounce but not a game-changer. Euro/dollar has reached support at 1.0570 ahead of Draghi’s testimony.
More: EUR/USD has a shot on parity
Share
