Draghi speech: Underlying inflation ticked up but subdued

Mario Draghi, President of the ECB, continues to make comments on the monetary policy, with key headlines, via Reuters, found below:

• Underlying inflation ticked up but subdued
• Very substantial degree of stimulus still needed
• This autumn will decide on calibration of policy beyond this year
• App path will take into account inflation, financial conditions

Key notes:

EUR/USD eases from tops on steady ECB, near 1.1980

The single currency stays within range after the European Central Bank left its monetary policy intact at today’s meeting, with EUR/USDaround the 1.1970/80 band.

EUR/JPY unfazed around 130.40 post-ECB

The EUR/JPY cross trimmed some of its early gains and retreated back below mid-130.00s post ECB announcement. 

ECB's press conference

Following the ECB´s economic policy decision, the ECB President gives a press conference regarding monetary policy. His comments may influence the volatility of EUR and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the EUR, whereas his dovish view is considered as negative, or bearish.