Details of the ECB press conference

The single currency moved to a decline after the session high was upgraded to the level of 1.2445. The decline of the euro was caused by the comments of ECB President Mario Draghi, who did not give clear signals about the reduction in the volume of the QE program. In his speech, Draghi said:

– The discount rate will remain for a long time at the current level, even after the completion of purchases of assets.

– The countries of the Eurozone need more active reforms.

– Lending to the private sector continues to revive.

– The capitalization of companies has revived with the support of favorable financing conditions.

– Private consumption is supported by growing employment.

– There is still a need for considerable monetary stimulus.

– Core inflation remains low-key.

Technical analysis and trade recommendations See “ECB Discount Rate. Possible surprises are yet to come. “

Alexander Sivtsov