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It is a less eventful European part of the session with only Italian Trade Balance figures being release. Latest report showed 3.54 billion euros of surplus, well above expectations on 1.21 billion euros of surplus. Traders are still weighing on yesterday's Draghi's comments at ECB Press Conference, but overall we can expect that ECB will precede with its accommodative policy.
 
The ECB’s Extended Asset Purchase Program only became fully operational in early March, it is scarcely surprising that Mr Draghi chose to make the analogy of being in the first kilometer of a marathon but neither is it entirely surprising that the press conference focused on diverse reasons why the program might not make it to the scheduled finishing line in its current form. One consideration is the possibility that inflation might recover more quickly to the ECB’s target than previously anticipated. In turn, this has raised the question as to whether ECB policy would mechanically continue on its current setting or adapt to changing economic circumstances.
 
Euro is currently being traded around 1.0650 area. Pair is likely to find support around 1.06 handle and resistance above 1.07 handle. Later today, in the US session, Building Permits, Housing Starts, Unemployment Claims and Philly Fed Manufacturing Index figures are scheduled for a release.

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