Draghi Speech: Need to be patient, not change the objective

Mario Draghi, President of the ECB, is responding to questions from the press, with key headlines, via Reuters, found below:

• Need to be patient, not change the objective
• Even discussing changing cpi target would be destabilizing
• Decision on QE will not be triggered by ‘one data point’

Key notes:

EUR/JPY surges to 130.00 mark on not so dovish Draghi

Having refresh session lows near 128.78 level post-ECB announcement, the EUR/JPY cross caught some strong bids and has now jumped to fresh session tops.

EUR/USD gets some oxygen from Draghi, around 1.1560

The single currency is rebounding from daily lows near 1.1480 vs. the greenback, with EUR/USD now in the 1.1560 area as Draghi’s press conference is under way.

ECB's press conference

Following the ECB´s economic policy decision, the ECB President gives a press conference regarding monetary policy. His comments may influence the volatility of EUR and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the EUR, whereas his dovish view is considered as negative, or bearish.