The ECB have seemingly paid lip service to German pressure but US jobs data looms large
We know Germany has not been keen to ease mon pol further and it looks like Draghi has bowed to that pressure in keeping his measures to a minimum today
The euro has understandably soared as shorts run for cover, a scenario I warned of in my preview, but before the bulls get too carried away there's the not so small matter of US non-farm payrolls on the horizon
Listening to the press conference there's many questions, quite rightly, asking Draghi why he seemed to send the wrong message prior. A question he's being rather coy about in answering but he's pumping up his chest on the success of QE thus far
He's also just said that the package today was agreed by a large majority of those voting albeit not unanimous
We can expect the euro to remain in demand for the moment as the market digests the full impact of today's announcement and bears think twice about jumping back in but tomorrow is another day and attention will most certainly return to the US and Fed rate hikes
