FX.co ★ Subtle hints from Mario Draghi

The results of the ECB meeting did not come as a surprise, and Mario Draghi's department left the parameters of the monetary policy unchanged. Nevertheless, the single European currency jumped above the level of 1.1600. However, the growth of the euro began not when the results of the meeting were announced, but when the press conference of the head of the ECB began. Mario Draghi's performance was extremely entertaining. At first glance, his words were neutral, but he pointed the improvement of economic dynamics. He also hint that in the autumn, the ECB could consider the possibility of tightening the monetary policy as the single European currency began to grow rapidly.

Even the pound shook from the statements of Mario Draghi. Despite the fact that the growth rate of retail sales accelerated from 0.9% to 2.9%, which turned out to be better than forecasts, it lost some of its positions. It is exactly the statement of the head of the ECB.

Today, there is no significant news, so the market will soon eliminate imbalances. The euro was heavily overbought, so it's worth waiting for its gradual weakening to 1.1580.

Pound will correct the mistake and win back a significant increase in consumer activity, so that it will grow to 1.3025.