Draghi speech: Will have to take FX into account in decisions

Eren Sengezer FXStreet

Mario Draghi, President of the ECB, is responding to questions from the press, with key headlines, via Reuters, found below:

Will have to take FX into account in decisions
Euro FX rate concerns reiterated by most rate setters
Discussed calibration of policy instruments
Did not discuss sequnce
Did not discuss in changes to issue and issuer limits
Discussed various scenarios

Key notes:

EUR/GBP hits two-week lows and quickly recovers to fresh session tops

As the ECB presser got underway, the EUR/GBP cross refreshed two-week lows but quickly rebounded back to hits fresh session high level near the 0.9175-80 region.

EUR/JPY unfazed around 130.40 post-ECB

The EUR/JPY cross trimmed some of its early gains and retreated back below mid-130.00s post ECB announcement.

ECB's press conference

Following the ECB´s economic policy decision, the ECB President gives a press conference regarding monetary policy. His comments may influence the volatility of EUR and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the EUR, whereas his dovish view is considered 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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