Mario Draghi, President of the ECB, is responding to questions from the press with key quotes found below.
- We are not experimenting with digital currencies.
- Structural reforms need to be stepped up.
- Timing of the implementation of these reforms is a political decision.
- Been working with the BoE for several months to address risks on the financial system in case of a hard-Brexit.
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EUR/USD Technical Analysis: Euro challenges the 2019 low during the ECB press conference.
EUR/USD is trading in a bear trend below the 50, 100 and 200-day simple moving averages (SMAs).
EUR/GBP falls to fresh 2-1/2 month lows, farther below 0.8700 handle and bounces.
As the ECB post-meeting presser got underway, the selling pressure surrounding the shared currency picked up the pace and dragged the EUR/GBP cross to fresh 2-1/2 month lows.
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).
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