Exit
Log In

Euro volatile after Draghi speech

Open demo account
FOREX trading implies serious risk and can result in the loss of your invested capital

Financial and commodity markets analytics

The Euro traded wildly today after a speech by ECB president Mario Draghi before settling down and remaining largely unchanged for the day.

At 7.35pm (GMT) the Euro was trading at $US1.1290 down   0.06 percent from yesterday’s trade.

In his latest speech ECB president Mario Draghi came out today with all guns blazing to fend off criticism from Germany that ultra low interest rates are promoting right wing nationalism in their country.

The source of the feud was German finance minister, Wolfgang Schäeuble, who noted that low interest rates were hitting the bottom line of German banks as well as pensioners.

Draghi fired back by adding the ECB is an independent institution and any interference would undermine the Central banks credibility

 “We have a mandate to pursue price stability for the whole of the Eurozone not only for Germany he said.

“We obey the law, not the politicians, because we are independent as stated by the law.” He added.

 

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.

Fibo Markets

FIBO Markets Ltd. (ex. FIBO Group Holdings Ltd.) is authorized and regulated by the CySEC (licence no. 118/10) and operates in accordance with the Markets in Financial Instruments Directive (MiFID) of the European Union.

Unfortunately, our services are not available to individuals residing in Canada, the United States of America, North Korea, Iran, Iraq, Israel, Australia, Belgium, or Japan.

29 Agias Zonis, 1st Floor, 3027, Limassol, Cyprus

© 1998—2023 FIBO Markets Ltd. (ex. FIBO Group Holdings Ltd.)

IMPORTANT: Please be informed, that our services are available for Professional Clients only. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Please note that our services are provided only to the residents of the following counties (in alphabetical order): Austria, Bulgaria, British Virgin Islands, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Kazakhstan, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Oman, People's Republic of China, Poland, Portugal, Romania, Russia, Slovakia,Slovenia, Spain, Sweden, Ukraine, United Arab Emirates.

Please feel free to contact out Support in order to get further assistance.