ECB: Markets keeping an eye on Draghi today

Analysts at TDS point out that today is the first full day of the ECB's Sintra conference and the key event today will be President Draghi's introductory speech at 9am BST, which markets will be keeping an eye on after the sharp market reaction to last year's speech, which drove the EUR and bund yields substantially higher, even starting some chatter of a potential taper tantrum.

Key Quotes

“The ECB was forced to come out with "sources" stories issuing clarifications afterwards, saying that Draghi's comments were over-interpreted.”

“This year though we don't think that there's nearly as much opportunity for mis-steps after what we think was a pretty clear message at last week's ECB meeting. Markets now have a very clear idea of the path toward the end of QE as well as the timing for the first rate hike, so with policy largely on a preset course until Q3 2019, contingent on macro developments of course, we think that any market reaction to Draghi's comments this year is likely to be muted. The ECB's Praet and Lane also have appearances at Sintra today.”

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news