The results of the press conference of the ECB head M. Dragi

During the press conference, the head of the ECB Draghi noted the need to maintain significant stimulus measures for the economy. Economic growth was noted that had a positive impact on the forecast of GDP growth in the eurozone.

Despite the growth in GDP forecasts, the tone was very restrained, but the speech also contained positive notes. The possibility of curtailing the quantitative easing program was not considered. Fears remain for low inflation and the labor market.

During the press conference, the pair EUR/USD demonstrated volatility of about 60 points. As a result, a maximum of a week was updated, but this pair was under pressure of a soft tone, limited to the support level of 1.1800. The breakthrough of this level will open the way to correction against yesterday’s growth.

Hanzenko Anton