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ECB’s Draghi: Considerable Degree Of Monetary Accommodation Still Needed

A considerable degree of monetary accommodation is still required for underlying inflation pressures to build up, European Central Bank President Mario Draghi said at the ECB Forum on Central Banking on Tuesday.

Factors that are now weighing on the …

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Daily economic digest from Forex.ee

Daily economic digest from Forex.ee

Stay informed of the key economic events

Tuesday, June 27th

The EUR/USD pair surrendered part of its overnight gains, having faced resistance at 1.1200 level on the European opening, as the market turned cautious ahead of key central bankers’ speeches. Yesterday the pair received strong bullish impetus following solid German business data, however, the spike faded quickly, as the US dollar corrected higher against its main competitors, despite downbeat US Core Durable Goods Orders report. Adding to this, yesterday’s uninformative speech of the ECB President M.Draghi also failed to provide any support to the common currency. Today speeches by the ECB President M.Draghi and Fed Chief J.Yellen will take center stage, as further divergence of monetary policies’ will shape up pair’s next course. Besides key economic events, today the US will release the CB Consumer Confidence report, which will also be able to bring some trading opportunities

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