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Currency Analyst since 2010

The ECB’s Draghi: press conference

-          Euro zone’s GDP forecast is revised down to -0.6% in 2013, while 2014 economic growth forecast was raised to 1.1%.

-          There will be gradual recovery later this year.

-          Falling energy costs should add to improvement.

-          Exports should benefit from global recovery.

-          Medium term inflation expectation firmly anchored.

-          Policy will remain accommodative as long as it’s needed. The ECB has discussed non-standard measures.

-          The central bank’s technically ready for negative rates.

EUR/USD touched 1.3166 after Draghi noted that the 2014 inflation forecast was unchanged, not lowered.  

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