As the head of the ECB Mario Draghi stated in his speech to the legislators of the Netherlands last week, “it is still necessary to maintain the current very significant monetary stimulus for further growth of the basic inflationary pressures. It’s too early to talk about the final success”. The passions about the presidential elections in France have subsided, and the extra soft monetary policy of the ECB is again on the forefront.
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EURUSD followed through after dismal US consumer data with another leg up. The pair closed the day at 1.0975. It looks like EURUSD likes to stay above 200MA. I was expecting bit deeper correction towards 1.0750 but it looks like this will not happen now
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