The European Central Bank (ECB) President Draghi’s speech is likely to hog the limelight in a data-light European session ahead. Draghi is due to deliver the opening remarks at 0700 GMT at the 9th ECB Statistics Conference, in Frankfurt. Draghi is likely to speak on the topic of “20 years of ESCB statistics: What’s next?” and hence, not much is expected on the monetary policy or Eurozone economy. However, markets will still keep close ears on any hawkish remarks hinting towards an ECB rate hike over the coming months. At its June 14th monetary policy meeting, the ECB announced a halving of its bond-buying scheme to a rate of €15 billion in Q4 2018 and an end to purchases from 2019. How could it impact EUR/USD? According to Omkar Godbole, Analyst at FXStreet, “the cross-driven sell-off in EUR/USD could gather pace if the European equities feel the pull of gravity in response to trade tensions. Further, the EUR pairs could turn volatile during the European Central Bank (ECB) President Mario Draghi’s speech. The central banker could reiterate that interest rates will remain at record lows for a long time.” Key Notes EUR/USD Forecast: directionless around 1.1700 mark, Draghi eyed for fresh impetus EUR/USD path of least resistance remains up as it looks for a new direction – Confluence Detector About Draghi’s speech As part of his job in the Governing Council, he gives press conferences in the back of how the ECB observes the current European economy. President’s comments may determine positive or negative the Euro’s trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Australia: Strong economic releases – TDS FX Street 4 years The European Central Bank (ECB) President Draghi's speech is likely to hog the limelight in a data-light European session ahead. Draghi is due to deliver the opening remarks at 0700 GMT at the 9th ECB Statistics Conference, in Frankfurt. Draghi is likely to speak on the topic of "20 years of ESCB statistics: What's next?" and hence, not much is expected on the monetary policy or Eurozone economy. However, markets will still keep close ears on any hawkish remarks hinting towards an ECB rate hike over the coming months. At its June 14th monetary policy meeting, the ECB announced a… 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.