Euro is a little unsteady this morning, trading mixed against its major counterparts as Mario Draghi talks about eurozone monetary policy.
Euro is getting a little help against the US dollar today, thanks to the disappointing retail sales and manufacturing data. Additionally, with stocks on the rise following earnings data (the US market seems to be shrugging off the economic data), the euro has a little more support.
Some help for the euro is coming in the form of comments by Mario Draghi, the President of the European Central Bank. Draghi is talking confidently about the eurozone and about monetary policy. He says that there is no evidence of systemically large stability imbalances and insists that there aren’t any bubbles. Additionally, he says that full eurozone economic recovery depends on full implementation and is indicating that there won’t be an early exit from the quantitative easing program. Draghi is also downplaying the importance of an exchange rate as monetary policy.
Euro is trading mixed, struggling against the pound, even as it is higher against the yen and the US dollar.
At 13:41 GMT EUR/USD is up to 1.0669 from the open at 1.0655. EUR/GBP is down to 0.7207 from the open at 0.7208. EUR/JPY is up to 127.2790 from the open at 127.2110.
If you have any questions, comments or opinions regarding the Euro,
feel free to post them using the commentary form below.
Be First to Comment