EURUSD rose yesterday and closed at 1.3831. The President of the European Central Mario Draghi indicated yesterday that the central bank is ready to start broad-based asset purchases if the inflation outlook in the EU continues to worsen. Draghi projected the inflation rate to remain low for a prolonged period of time and warned that a stronger Euro could impact the fragile economic recovery in the region. Another comment from ECB Governing Council member Luc Coene also indicated a potential move from the central bank suggesting negative rates on deposit facility. In United States the durable goods orders rose more than expected to a reading of 2.6 percent in March.
Support for the EURUSD is seen at 1.3787 and resistance is seen at 1.3849.
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ECB ready to start asset purchases according to Mario Draghi
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