+357 25 105 641
  • Facebook
  • YouTube
Euro down on Draghi comments
Published on 08.04.2016 00:58

The Euro is trading lower today against the US dollar after a fiery monetary speech from ECB Mario Draghi earlier today.

At 9.46pm(GMT) the Euro was trading at US$1.1375 down 0.23 percent from yesterday’s trade.

In a no hold bars speech today, Draghi noted that he expects 2016 to be a tough year but the ECB was ready to do whatever it takes in order to boost inflation and get the economy going.

“We face uncertainty about the outlook for the global economy. We face continued disinflationary forces. And we face questions about the direction of Europe and its resilience to new shocks,” Draghi noted.

Adding to that, Draghi also said the ECB was ready to stand strong and fend off the inflation problem that the Eurozone is currently faced with.

"These decisions reaffirmed that, even when faced with global disinflationary forces, the ECB does not surrender to excessively low inflation." He said.

Many analysts took this as a sign that the European central bank was ready to increase it’s stimulus plan if needed, in order to solve the problem which sent the Euro lower with the prospect of a new bunch of government money flooding the Eurozone.

The material published in on this page is produced by the FIBO group companies, and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Andrew Masters

Analyst

The power of leverage is the power of Forex.
×

Risk warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, your level of experience and preparation of taking risk. The possibility exists that you could sustain a loss of some or of all of your initial investments and therefore you should not risk more than you are prepared to lose. Please seek independent financial advice if necessary.

Important notice
By clicking "Continue" you will be redirected to the website operated by FIBO Group, LTD company registered in BVI and regulated by FSC. Click "Cancel" to remain on this page.