Draghi speech: Improvement in economy is one reason behind FX changes


Mario Draghi, President of the ECB, is responding to questions from the press, providing the key quotes, via Reuters, found below.

Commitment to inflation target remains firmer than ever.

We have observed since December that expected path of short-term interest rates has moved upward.

Improvement in economy is one reason behind FX changes.

Second cause of FX rate change is heightened market sensitivity to perceived changes in ECB communications.

Third reason is use of language in discussing FX developments doesn't reflect agreed terms of reference.

Key notes

EUR/GBP spikes to fresh session tops as the ECB presser gets underway.

The EUR/GBP cross extended its modest rebound from 7-month lows and spiked to fresh session tops, around 0.8725 region as the ECB presser got underway.

EUR/USD gathers traction on Draghi, 1.25 just around the corner.

The shared currency quickly rebounded from daily lows vs. the buck on Thursday, now pushing EUR/USD to fresh 2018 tops near 1.2500 the figure.

About Mario Draghi

The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. 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).

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.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD capped under 1.13 as Lagarde hints at inaction

EUR/USD is trading below 1.13, steady. ECB President Lagarde hinted she will pause in next week's decision while urging leaders to agree on fiscal stimulus. US coronavirus data and Sino-American relations are eyed.

EUR/USD News

Gold holds steady near multi-year tops, just below $1800 mark

Gold remained confined in a range through the Asian session on Wednesday and consolidated the previous day's strong positive move to fresh multi-year tops.

Gold News

GBP/USD holds up around 1.2550 ahead of Sunak's speech

GBP/USD is trading around 1.2550, holding onto its gains. UK Chancellor Sunak is set to lay out the fiscal stimulus plan. Brexit remains deadlocked as PM Johnson told German Chancellor Merkel that Britain could leave without a deal.

GBP/USD News

Forex Today: Gold eyeing $1,800, dollar mixed, as coronavirus, Hong Kong peg move markets

Markets are looking for a new direction after stocks retreated and the dollar gained some ground on Tuesday. Concerns about coronavirus cases in the US and geopolitical tensions are in play.

Read more

WTI looks for a firm direction below $41.00, EIA inventories eyed

WTI recedes from intraday top while also keeping the bounce off daily low near $40.30. Global pressure on China, coronavirus resurgence keeps a lid on the blackgold. European oil giant follows BP and Shell to cut price forecast. EIA Crude Oil Stocks expected to drop 3.4M versus prior fall of 7.195M.

Oil News

Forex MAJORS

Cryptocurrencies

Signatures