The Euro is still controlled by “bears”. Overview for 19.06.2018

The main currency pair is still weakening; the Euro couldn’t find support in Mario Draghi’s comments.

On Tuesday, EURUSD continues its “free fall”. The current quote for the instrument is 1.1540.

The ECB Governor Mario Draghi delivered his second speech in two days. Today, he was speaking about the Euro Area economic outlook. According to his opinion, “economic horizons” are still rather unclear, although one should admit that the European economy continues growing. Draghi said that economic expectations in the short-term remained unchanged, but higher external risks should be also taken into consideration.

As for the regulator’s monetary policy, the ECB is going to be very careful about it: the Central Bank is really planning to increase the benchmark rate for the first time since 2016, but the time for this should be chosen very carefully.

Draghi once again mentioned that investors’ expectation sometimes were too excessive, but the ECB’s major strategy related to the key rate was correct, which was confirmed by macroeconomic numbers and parameters.

Among external risks, the regulator marked the financial expansion of the USA and the threat of еур global protectionism.

Today’s macroeconomic calendar barely offers a lot of statistics that deserve attention, that’s why investors are focused on Draghi’s words. In general, “super Mario” didn’t say anything that investors hadn’t known before.