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No Fireworks for Mario Draghi's Final ECB Meeting

The ECB left rates unchanged, while Draghi defended the decision to keep policy accommodative

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October 24, 2019 06:19 AM

Draghi’s modest parting gift to sterling

Sterling briefly touched a three-month high after the ECB cut rates and relaunched QE

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September 12, 2019 10:02 AM

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After ECB Rate Decision, All Eyes on Fed

Will the FOMC feel the pressure from President Trump?

ECB Recap: “QE Infinity” Emboldens Euro Bears

The European Central Bank made a series of decisions to ease monetary policy and try to stimulate the Eurozone economy

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September 12, 2019 04:35 AM

Markets On Tenterhooks Ahead Of Draghi’s Finale | EUR/CHF, EUR/AUD, EUR/NZD

Draghi’s final meeting is just hours away, with several Euro crosses sitting on ‘make or break’ levels.

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September 11, 2019 08:03 PM

ECB Recap: Setting the Stage to Push Back Interest Rate Liftoff?

In yesterday’s article, we noted that the European Central Bank meeting had the potential to be a bit of a non-event, and based on todays market’s reaction, that’s exactly what happened (see “ECB Preview: Dovish Surprise Possible, but Draghi Likely to Leave His Options Open” for more).

ECB Preview: Dovish Surprise Possible, but Draghi Likely to Leave His Options Open

Amidst the ongoing Brexit hullaballoo (latest headlines suggest Theresa May will survive her no confidence vote as we go to press), tomorrow’s ECB meeting has no doubt snuck up on many FX traders.

EUR/USD: 3 Storylines Driving Trade at the Start of the Week

Risk assets are bouncing back after a rough holiday-shortened week in the US, with US stock indices gaining around 1% at the open to trade back at Wednesday’s levels. As my colleague Fawad Razaqzada chronicled earlier this morning, weekend progress on a Brexit deal has stabilized sentiment, though there are still plenty of hurdles to clear before a smooth transition is likely. In the FX market, last week’s “safe haven” winners (the JPY, CHF, and USD) are the three weakest major currencies so far today.

ECB Recap: Draghi Sticks to the Script, EUR/USD Bears Eye 16-Month Low Near 1.13

As my colleague Fawad Razaqzada noted earlier this morning, there was little reason for the European Central Bank to provide a boost to the euro and that the odds favored a slightly more dovish tone (see “Will ECB Drag EUR/USD Lower?” for more) …and that’s exactly what we’re seeing in the wake of the meeting.

Will ECB Drag EUR/USD lower?

I am trying to think how and why the European Central Bank or its President Mario Draghi might want to give the euro a boost today and can’t find one good reason.

EUR/USD plunges on dovish ECB and delayed response to hawkish Fed

The EUR/USD spiked higher before coming under intense selling pressure in the immediate aftermath of the European Central Bank meeting as speculators judged the policy statement to be overall more bearish than bullish.

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June 14, 2018 06:44 AM

Potentially dovish ECB could accelerate EUR/USD’s breakdown

This week was all about the pound; next week could be all about the euro...

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April 20, 2018 08:11 AM

DAX extends rally ahead of ECB

European stock indices stormed higher yesterday and have extended their gains this morning ahead of the European Central Bank rate decision and press conference today.

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September 7, 2017 03:18 AM

EUR/JPY poised to move on ECB decision

As usual, Thursday’s European Central Bank (ECB) policy decision and press conference will be watched closely for clues regarding the bank’s current stance on monetary policy, including its views on Eurozone inflation, interest rates, and potential tapering of the ECB’s massive quantitative easing (QE) program. Of primary concern for euro traders will be whether or not a timeline for QE tapering will be addressed, as well as whether ECB President Mario Draghi will verbally attempt to stem the strength of the euro. Last month, minutes from July’s ECB meeting unveiled concerns about the possibility of the euro “overshooting.”

EUR/USD braces for Yellen and Draghi at Jackson Hole

A combination of highly anticipated speeches from Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi at the Jackson Hole Symposium later this week has the potential to shake EUR/USD out of its recent trading range.

ECB remains dovish but will Draghi offer any new insights?

The European Central Bank press conference is today’s most anticipated event where Mario Draghi could make clear ECB’s plans regarding the future path of Eurozone monetary policy. In its policy statement, the central bank merely re-iterated that it sees QE running until the end of December or beyond if needed and that the stimulus can be increased in size and duration if the economic outlook worsens.

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July 20, 2017 04:16 AM

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Threat of deflation gone: Draghi sends euro surging

In FX markets, the euro jumped in response to comments from Mario Draghi earlier today. The European Central Bank President said that “the threat of deflation is gone and reflationary forces are at play."

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June 27, 2017 04:14 AM

EUR/USD: Will Draghi trigger short squeeze in euro?

Growth in the Eurozone is picking up, unemployment is falling and inflation is accelerating towards the European Central Bank’s 2 per cent target. Within the Eurozone however, inflation is higher in some countries and lower in others. Spain’s 3% inflation rate stands out. But it is Germany where most of the noise is coming from. Here, inflation rose to 1.9% year-over-year in January from 1.7% the month before. With interest rates at zero and QE near full throttle, you can understand why the Germans feel that the ECB’s current monetary policy stance is no longer appropriate for the Eurozone’s economic powerhouse

EUR/USD whipsaws then plunges on mixed-to-dovish ECB message

The European Central Bank (ECB) issued a somewhat surprising but rather mixed message on Thursday that led to a bit of a tailspin for the euro which quickly transformed into a steep dive for EUR/USD.

EUR/USD could plunge if ECB denies taper talk

According to a CNN poll, Hillary Clinton won last night's debate with Donald Trump, ensuring a 3-0 aggregate score. Market participants seem to be convinced that Clinton will now become the next US President and as such they are not foreseeing any major economic or political shocks that would discourage the Fed to raise rates in December or threaten its independence.

EUR/USD soon to turn decisively lower?

With stocks, pound and yen dominating the headlines in recent weeks, traders haven’t paid as much attention to what still is the world’s most heavily-traded FX pair: the EUR/USD. Given that the respective meetings of the Bank of Canada and Bank of England are scheduled for later today and tomorrow, the EUR/USD may not garner much attention during this period either. But then the focus turns to key US data at the end of this week and next week there will be some important macro pointers from the Eurozone, too, as well as the policy meeting from the European Central Bank. So, the EUR/USD should come under spotlight fairly soon.

EUR/JPY heads back down after dovish Draghi

Not much about the European Central Bank’s (ECB) public pronouncements on Thursday was unexpected. Interest rates remained unchanged this time, as anticipated, after the surprisingly aggressive easing actions presented at last month’s meeting. ECB President Mario Draghi struck an overall dovish tone, reiterating the need to address persistent conditions of low inflation and economic growth risk. At the same time, however, Draghi urged patience in the face of prolonged weakness in inflation, hinting that any further easing will need to wait. Thursday’s ECB press conference skewed towards the dovish side primarily because Draghi kept open the potential for lower rates, in contrast to last month’s conference, when he remarked that he did not expect interest rates to decline any further.