Mario Draghi has a difficult job - every time he makes a public appearance he has to convince people that they should sell the Euro. Why? Because its good for European exports and good for their recovering economic growth.
The problem is that a few days ago, it didn't work. In fact, the Euro rose over 1% against the dollar. This market wants to buy the Euro.
With terrible economic data from the US and an inevitable reduction in the massive European QE program pending, the only way for EUR/USD now, is up.
The problem is that a few days ago, it didn't work. In fact, the Euro rose over 1% against the dollar. This market wants to buy the Euro.
With terrible economic data from the US and an inevitable reduction in the massive European QE program pending, the only way for EUR/USD now, is up.