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Forex Flash: Draghi highlights market fragility and mitigated credit – Deutsche Bank

According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Draghi’s overall message at the post-ECB press conference seemed to be that monetary policy would remain accommodative.” Like last month, Draghi talked about the remaining market fragility and reiterated that credit is yet to flow to the real economy.
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Gold prices trading at $1669.98

According to the Technical Analyst Team at ICN.com, “The pivotal resistance of 1685.00 continued to act as a hard technical obstacle preventing bulls from taking gold higher. The daily closing was achieved again below SMA 50 and also below SMA 20. Thus, the bearishness is in favor over intraday basis but not before beating the support of 1663.00, whilst 1695.00 should act as a ceiling for bears.”
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