Promises, promises. A lack of easing, aside from a promise of "lower for longer", has driven EURUSD back above 1.38 as the market is once again disappointed by Draghi's lack of exuberance.
- *DRAGHI SAYS UNEMPLOYMENT STABILIZING, REMAINS HIGH (umm, continues to rise every month?)
- *DRAGHI SAYS UPSIDE, DOWNSIDE INFLATION RISKS REMAIN LIMITED (umm, continues to plunge every month?)
- *DRAGHI SAYS RISKS TO ECONOMIC OUTLOOK ARE ON DOWNSIDE (umm, stocks are at record highs?)
- *DRAGHI SAYS REAL INCOME SUPPORTED BY LOWER ENERGY PRICES (umm, so no sanctions on Russia then?)
But apart from that, Draghi is "nailing it"...
We are sure a stronger currency will work wonders for the recovery...
Just how cornered is Draghi - well you decide - after these comments...
- *DRAGHI CITES LOW INFLATION, WEAK ECONOMY, SUBDUED CREDIT
- *DRAGHI SAYS ECB EXPECTS RECOVERY TO PROCEED AT A SLOW PACE
So why no "stimulus" - what's he worried about?