It was all about Mario Draghi overnight where his comments were interpreted as hawkish despite there being dovish undertones, suggests the analysis team at ANZ.
“While there was an acknowledgment the euro area recovery is strengthening and broadening, there was still concern around the durability of inflationary pressures. This is expected to keep monetary policy very stimulatory for some time. But the first acknowledgement that “as the economy continues to recover, a constant policy stance will become more accommodative, and the central bank can accompany the recovery by adjusting the parameters of its policy instruments – not in order to tighten the policy stance, but to keep it broadly unchanged” was enough for yields to snap higher.”
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.