Saxo Group Videos

Market uncertainty as Draghi again just hints at QE

The ECB's Mario Draghi gave little away at his regular monthly news conference, disappointing markets which were hoping for more detail on QE. Saxo Bank's Head of FX Strategy, John Hardy, says the forex markets are trying to digest just what's priced in and early EUR gains were capped.

John still sees EURUSD moving lower in the coming weeks. Draghi said he'll assess whether the eurozone needs more stimulus in the new year. The area's growth and inflation rates have been downgraded and Draghi admitted that the risks for the euro area are "on the downside". Both the ECB and the Bank of England kept rates at record lows this Thursday.

02:00 minutes
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