Are you ready for Mr.Draghi?
Today is ECB day. First, at 12:45 h (GMT) we have ‘ECB Interest Rate Decision’ and after at 13:30 h (GMT) ‘ECB Monetary policy statement and press conference’. Current main interest rate is 0,05% and any surprice here could be devastating for the Euro! If Mr.Draghi and ECB decided not to change anything here, what could we expect at the press conference? Corporate bond buying and new QE? I don’t thik so, but we could find out how far is ECB from lounching this messures. There is a lots of talking on the market that ECB will act today, but I think that Mr.Draghi will ‘act’ with his dovish talk more then concrete action. On the other side, if there will be no actual action today from ECB, euro drop could reverse to recovery and cover some losses from the previous months!? For sure, this could be a very interesting day, buckle up!