IronFX, What happened on ECB Draghi’s Press Conference today? Here are several Key Points!
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Key points from ECB Draghi’s press conference:
- Growth risks are moving closer to being broadly balanced, but are still tilted to the downside.
- Did not discuss existing stimulus.
Not sufficiently confident that inflation will converge back to our target EURUSD rose approximately 40 pips on the first bolded point, briefly breaking above the 1.0915 resistance level.
However, it reversed all its gains to trade even lower in the following minutes on the points in red.
He has kept a relatively balanced tone overall so far.
The most important point may be that they did not discuss stimulus reduction, which puts into question the recent reports that the Bank will change its language to more optimistic in June.
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