Highlights from ECB Lagarde press conference:

  • Downside risk to the economy increase substantially
  • initial signs of inflation expectations above target warrant monitoring
  • risk to inflation outlook tilted to the upside in near term; upside risks intensified
  • inflation is more widespread
  • inflation is mainly driven by energy
  • core inflation rise is uncertain
  • reopening of sectors after pandemic, strong labor market to support incomes

The EURUSD has moved to the downside on the initial comments from ECBs Lagarde and trades above and below the 200 hour MA at 1.0871.



The press conference concluded at 9:27 AM ET/1327 GMT

The EURUSD fell sharply on the back of the comments reaching a low of 1.08157. The price has bounced a touch and trades at 1.08287 currently.