Buckle up! President Draghi's speech today, EU CPI tomorow.
Starting at 18:45 h (GMT) President Draghi will have speech today. We are all aware of his ‘dovish’ tone during his talk about ‘euro economy’, but is it enough of the over reacting? He will talk in Frankfurt at the SZ Finance day 2015., during the dinner. On my oppinion we can’t hear anything new today, maybe he will mention the first week of his QE program, where ECB has purchased 9.75 billion euros, but who knows. Tomorow at 10:00 h (GMT) we will have the new CPI data from Eurozone and that could have a much bigger impact on the euro. But, when Mr.Draghi is on, you never know. Be careful! In the meanwhile, as I wrote in my EUR/USD analysis from this morning, euro is still bullish and it manage to catch first resistance at 1.0600/15, the previous support from Thursday/Friday. Next resistance lies at 1.0670/90, the previous resistance and high from Thursday March 12.