Friday, January 22, 2016

Forex markets: Once again Draghi did his magic trick

“Uncle” Draghi yesterday used the power of words acknowledging that downside risks have increased again and the central bank will review their stance at their next meeting. He emphasized that the ECB has the power, willingness and determination to act, by using any of many tools within their mandate.

So not only did he manage to push the EUR lower causing readjustments in the forex markets, producing excellent trades, he also helped in putting an end to the dropping oil prices and Stock markets.

No wonder why many of us call him “uncle” !