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4 Dec 2014
ECB leaves bitter taste in trader’s mouths - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that Mario Draghi came and went, expressing more than what he actually said and leaving a bitter taste in traders’ mouths.
Key Quotes:
“The ECB’s head left its economic policy unchanged with rates steady at 0.05%, indicating that the ECB needs more time to assess the impact of latest measures and he delayed QE for early 2015. At the same time, he slashed growth and inflation expectations for this year, 2015 and 2016”.
“Investors were by no means expecting QE but may have gotten ahead of themselves pushing the EUR/USD sub 1.23 before the news, and the speech triggered a sharp rally in the pair that advanced up to 1.2455”.
“Later in the US afternoon and according to “officials familiar with the deliberations,” a news agency reported ECB’s Governing Council expects to consider a proposal for a broad-based asset program including sovereign debt next month, sending the pair down to 1.2359”.
Key Quotes:
“The ECB’s head left its economic policy unchanged with rates steady at 0.05%, indicating that the ECB needs more time to assess the impact of latest measures and he delayed QE for early 2015. At the same time, he slashed growth and inflation expectations for this year, 2015 and 2016”.
“Investors were by no means expecting QE but may have gotten ahead of themselves pushing the EUR/USD sub 1.23 before the news, and the speech triggered a sharp rally in the pair that advanced up to 1.2455”.
“Later in the US afternoon and according to “officials familiar with the deliberations,” a news agency reported ECB’s Governing Council expects to consider a proposal for a broad-based asset program including sovereign debt next month, sending the pair down to 1.2359”.