Draghi Speech: QE program has enough flexibility to be adapted

Eren Sengezer FXStreet

The European Central Bank's President Mario Draghi is responding to questions from members of the European Parliament, with key quotes (via LiveSquawk & Reuters), found below.

QE program has enough flexibility to be adapted.

Governor Stournaras, trusted member of Governing Council, has worked hard for Greece.

Geopolitical risk, policy disappointment abroad could cause market correction, unwanted tightening in euro zone financing conditions.

Key notes

EUR/USD unfazed near 1.1770 on Draghi.

The EUR/USD pair stalled its mid-European session retracement from levels beyond the 1.1800 handle and is now looking to stabilize around the 1.1770-75 region.

ECB Minutes to be of significant importance this week - BBH.

The ECB's meeting's October 26 meeting was more significant and the release of its minutes will be keenly watched by investors, according to analysts at BBH.

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).

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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