Draghi’s speech on monetary policy – Live Stream Coverage

ECB President Mario Draghi will speak on the impact of monetary policy of the ECB at the Dutch House of Representatives in The Haghe (Netherlands) at 12GMT.

The FX universe is expected to closely follow today’s appreciations by Draghi, particularly in light of the relentless recovery in the euro area, the recent (albeit ‘unconfirmed’) pick up in consumer prices and rising speculations on the timing of a shift in the bank’s forward guidance, especially regarding the size/duration of the current ‘quantitative easing’ programme.

EUR/USD has reverted the initial positive tone and is now posting losses for the third session in a row, shedding more than two cents since Monday’s tops beyond the psychological 1.1000 barrier. Further downside should open the door for potential test of the 1.0820 region, Monday 24^th low following the first round of the French elections.

Key Notes

EUR/USD forecast: weak ahead of Draghi’s speech

In-house Analyst Valeria Bednarik gives her views on the upcoming event.

EUR/USD drops to 2-week low ahead of Draghi

The persistent offered bias around EUR continues to weigh on spot.

EUR/USD upside pressure mitigated below 1.0830 – Commerzbank

Commerzbank's Karen Jones view on the pair's prospect.