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Market Updates: EUR/USD Spikes on ECB Mario Draghi Speech – Key Takeaways

EUR/USD spiked more than 25 pips after mixed remarks from the ECB President Mario Draghi. However, the direct currency pair is trading in line with our forecast.

Key Takeaways

The last year has seen a loss of growth momentum in the Euro area, which has extended into 2019.

  • We expected the expansion to slow in 2018 as the business cycle matured and growth retreated towards potential.
  • The domestic economy has remained relatively resilient, and the drivers of the current expansion stay in place.
  • The risks to the outlook remain tilted to the downside.
  • Remain confident that sustained convergence of inflation to target has been delayed rather than derailed.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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