The FX market is likely to pay particular attention today to what Draghi has to say about further rate cuts, should he be any more outspoken on the matter than last time round, euro/dollar is likely to ease further. I would certainly steer clear of long positions.

Lutz Karpowitz

Categorized in : Company News

Regardless of what he may or may not have said in the confidential meetings the press had no access to, in my view the reaction illustrates that the currency market is not yet ready to change over to more dollar strength, positive U.S. data or not.