ZeroHedge – EURUSD Surges As Draghi Disappoints Again – 6 March 2014

ZeroHedgePromises, promises. A lack of easing, aside from a promise of “lower for longer”, has driven EURUSD back above 1.38 as the market is once again disappointed by Draghi’s lack of exuberance.

  • *DRAGHI SAYS UNEMPLOYMENT STABILIZING, REMAINS HIGH (umm, continues to rise every month?)
  • *DRAGHI SAYS UPSIDE, DOWNSIDE INFLATION RISKS REMAIN LIMITED (umm, continues to plunge every month?)
  • *DRAGHI SAYS RISKS TO ECONOMIC OUTLOOK ARE ON DOWNSIDE (umm, stocks are at record highs?)
  • *DRAGHI SAYS REAL INCOME SUPPORTED BY LOWER ENERGY PRICES (umm, so no sanctions on Russia then?)

But apart from that, Draghi is “nailing it”…

We are sure a stronger currency will work wonders for the recovery…

Just how cornered is Draghi – well you decide – after these comments…

  • *DRAGHI CITES LOW INFLATION, WEAK ECONOMY, SUBDUED CREDIT
  • *DRAGHI SAYS ECB EXPECTS RECOVERY TO PROCEED AT A SLOW PACE

So why no “stimulus” – what’s he worried about?

www.zerohedge.com / link to original article

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