Draghi: Negative Rates? No Need Now – EUR/USD Jumps

ECB President Mario Draghi is very relaxed in the press conference and says that while the ECB is technically ready for a negative rate, but doesn’t see a need to use it.

EUR/USD jumps above resistance at 1.3162 and heads towards 1.32.

This is the key take from the ECB press conference, and totally different than the previous one.

Once again, Draghi zig-zagged from pessimism last time to optimism and calm now.  He also pats himself on the back regarding the OMT and goes forward to mention rising US stock markets as OMT related.

More levels are in the EURUSD forecast.

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Further reading: Central banks close to unleashing Tsunami of volatility in forex markets

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