Draghi EU is “solid expansion phase”
|Draghi EU is “solid expansion phase” – USDJPY was the biggest mover overnight followed Abe’s statement that will eliminate deflation, a mixed set of US data releases yesterday, along with Fedspeak. The House passed its version of the tax reform bill, which now goes before the Senate then potentially comes back for reconciliation between the two bodies. Elsewhere today, Draghi admitted that the “robust recovery” means the economy “may be becoming more resilient to new shocks”, but stressed that “we still need a patient and persistent approach to monetary policy to ensure that medium-term price stability is achieved”. The ECB President argued that while “we see inflation moving steadily away from the very low levels of recent years”, “progress remains incomplete and partial”, although “as the labour market tightens and uncertainty falls, the relationship between slack and wage growth should begin reasserting itself”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.