Euro Dives on Draghi's Comments

The Euro lost ground against rivals and tumbled following the European Central Bank president Mario Draghi comments at the ECB Forum on Central Banking in Sintra. Draghi declared that additional stimulus is needed if the outlook doesn't improve. The latest economic data suggested that the Eurozone area is faltering. The market is now pricing in an interest rate cut in December versus March 2020 ahead of his speech.
The EURUSD plunged to $1.1187, while the European indices cheered the dovish tone, and the German DAX rallied to 12160.

Disclaimer 

The prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM.COM. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.