FX.co ★ Global macro overview for 12/11/2015

Global macro overview for 12/11/2015:

ECB president Mario Draghi reiterated in today's morning speech that the QE will run up to September 2016 if needed to meet the 2% inflation goal. This dovish statements might add fuel to the fire as Draghi had already said last week that he is ready to do everything to meet inflation goals, including extension of the bond-buying program to September 2016. The December ECB meeting is likely to be crucial for long-term monetary policy updates.

The EUR/USD pair fell sharply after Draghi's remarks. It broken the support line at 1.0705. Now, it is trading at the level of 1.0711. The next support is seen at the level of 1.0673.