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Draghi disappoints but caution still advised into NFPs tomorrow

The ECB have seemingly paid lip service to German pressure but US jobs data looms large

We know Germany has not been keen to ease mon pol further and it looks like Draghi has bowed to that pressure in keeping his measures to a minimum today

The euro has understandably soared as shorts run for cover, a scenario I warned of in my preview , but before the bulls get too carried away there's the not so small matter of US non-farm payrolls on the horizon

Listening to the press conference there's many questions, quite rightly, asking Draghi why he seemed to send the wrong message prior. A question he's being rather coy about in answering

We can expect the euro to remain in demand for the moment as the market digests the full impact of today's announcement but tomorrow is another day and attention will most certainly return to the US and Fed rate hikes

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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