The euro had to face deflated expectations after ECB chief’s comments in a press conference following the Governing Council’s meeting yesterday.
In his words Mario Draghi said that inflation had not yet showed a sustainable upward trend and that significant monetary stimulus thus remained necessary. Finally the ECB extended its current bond buying program to September 2018.
EURUSD slipped to lows of 1.1640 after opening Thursday’s session at 1.1812, this morning the currency pair continue sto head lower. While currently at 1.1638 Realtimeforex.com’s tradertip scenario for the day expects 1.1583 to offer support and will likely recover back up to 1.1744-1.1779 after this sell off.
Apart from euro weakness, the USD enjoyed renewed support after the tax plan proposed by the Trump administration continued showing signs of progress on Thursday in the House of Represntatives.
As we wrap up the current week the highlight of today’s economic schedule goes to the US Annualized GDP figure for the 3rd Quarter.
