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ECB's Weidmann says no further easing required at present

Monday, Jun 13 2016
There are no data releases both from Eurozone and USA today, so it is being an overall steadier session. Bundesbank head and ECB governing council member Weidmann said over the wires 13 June 2016 that no further easing is required at present and that current expansionary policy is appropriate.
On Friday ECB President Mario Draghi said that ECB has time to give already adopted measures time to work. He reiterated that governments must take part in boosting growth in the Eurozone economy since the task cannot be done solely by the ECB. Therefore, fiscal policies should comply with the monetary policy and not against it. Furthermore, doubts over the future of the euro will only spur doubts and weakness detaining growth.
 
Euro is currently being traded few points below 1.1250 level. Pair is likely to find support around 1.12 handle and resistance above 1.13 level. There will be no major data releases in the rest of the session.
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