Draghi speaks in Athens
- Timely effective policy action is of the essence
- Single currency is more popular than ever
- Monetary policy will continue to do its job
- Fiscal policies can lower need for monetary stimulus
Draghi has been banging the fiscal policy drum as an alternative to monetary policy that is like pushing a string.
The EURUSD remains above its 100 hour moving average at the 1.0925 level. The next target scum at the high from yesterday at 1.09474 and the 38.2% retracement 1.09537. A move and close above the high from yesterday will be an outside day for the pair when a new 2019 low was achieved.
