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Not Much New Ground In ECB Press Conference

|Includes: CurrencyShares Euro Trust ETF (FXE)

Draghi did not break much new ground in his monthly press conference. His introductory remarks sounded a bit hawkish regarding inflation, saying it will hold above 2% this year, but he noted in the Q&A that he has no particular inflation concerns.

He repeated several times that downside economic risks prevail and he called talk of an exit strategy from LTO premature.

EUR/USD (NYSEARCA:FXE) remains pressured after the presser, holding below the uptrend broken earlier this morning at 1.3127 and the 100 day moving average at 1.3157. Those levels will become important on a closing basis.