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Why Draghi might wait, despite shock eurozone inflation
Eurozone inflation fell to 0.5% in March, down from 0.7% in February and less than what was expected. Saxo Bank's Head of FX Strategy, John Hardy, says there may be more pressure on Mario Draghi to announce some stimulus measures but this may not happen this Thursday, when the bank makes its monthly rates' announcement. The euro fell on the inflation news but quickly rebounded.
John says this is going to be a 'pivotal' week for the dollar. It's time for the greenback to 'prove itself' this week, he says. Apart from the ECB, we have the big jobs report, the non-farm payrolls on Friday. ISM manufacturing and non-manufacturing figures will give a good indication as to whether the recent patchy economic news from the USA was all down to the cold wintry weather of recent months or whether there's something more significant going on.
02:33 minutes
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