Draghi not putting the cart in front of the horse
Forward guidance is on the full package not individual parts
ECB is still not confident inflation is on track
Does not see a need to deviate from the comments in the opening statement
We have not discussed exiting stimulus
That's knocked the euro back down as it pours cold water on the story that they will change language in June (although June is over a month away).
EURUSD dips under 1.0900 to 1.0885.
So far he's going to great lengths to keep everyone's feet on the ground. Even the parts that can be called hawkish are small and only mild changes in language. He's spoon feeding the crowd while keeping the bowl under guard.
