EURUSD Surges As Draghi Disappoints Again

Tyler Durden's picture

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?