The results of the ECB President M. Draghi press conference
Draghi’s rhetoric, as well as the protocol, turned out to be quite restrained despite the optimistic market expectations about the ECB October meeting. Draghi’s press conference began with the risks of protectionism and volatility in emerging markets, that generally remain on the market. The growth of the euro was traced on statements about maintaining the basic level of inflation and that the ECB is ready to stop the stimulus measures, if it is necessary. The euro has returned to the established trading range on the return of Draghi to the words of world risks.
As a result, Draghi’s press conference can be called restrained and limited economic risk. The EUR/USD pair is limited by the downtrend despite the correction phase. It indicates a decline of the euro on the strengthening of the American dollar to support levels: 1.1370 and 1.1350.
EUR/USD chart. Current price – 1.1400
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Hanzenko Anton
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