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ECB President Mario Draghi Disappoints, EURAUD Drops to Nearly-one-week Lows

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Aug, 16th 13:38
euraud

The euro lost ground broadly versus its peers on Wednesday after Reuters reported that European Central Bank’s President Mario Draghi would not deliver any new policy messages at the U.S. Federal Reserve’s Jackson Hole conference.

The single currency reversed lower against its Australian counterpart. The pair EURAUD tumbled by more than 0.8% to trade at as low as 1.48770 – the lowest level since August 10th.

The report published by Reuters on Wednesday poured cold water on any hopes for the ECB’s Governor to announce plans to scale back its monetary stimulus program at the U.S. Federal Reserve symposium next week, reporting that Draghi would focus on fostering a dynamic global economy, which is the theme of the conference, and therefore, may keep any policy discussion until the fall.

Trade suggestion

Buy Digital Put Option from 1.48780 to 1.48480 valid until 20:00 GMT August 16, 2017