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Draghi hints asset purchase extension

Thursday, Nov 12 2015
The euro weakened after European Central Bank President Mario Draghi said economic risks to the currency bloc are “clearly visible” and that policy makers’ asset purchase plan will be extended if needed to reach their inflation goal.
 The 19-member common currency slid against all but one of its 16 major peers after Draghi’s comments to lawmakers in the European Parliament. It approached the lowest level since April against the dollar. 
 
Draghi reiterated the importance of European integration, specifically in the banking sector, as speculation of the United Kingdom's eventual departure from the European Union continues to proliferate.
 
Euro is currently being traded around 1.0720 area. Pair is likely to find support around 1.07 handle and resistance above 1.0770 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
More in this category: « Aussie higher after job data beat market forecasts Eurozone Industrial Production fell by 0.3% »

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