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Mario Draghi's "Why More QE Is Possible But Everything's Awesome" ECB Press Conference - Live Feed

Despite cherry-picked indications (and exultations) that everything is awesome in Europe's economies (and central banks were united to rescue the world in case of a Le Pen victory), Mario Draghi decided to offer the at-record-high markets another bowl of potential punch bystating that if things got "less favorable" the ECB would increase/extend QE. We look forward to hearing his 'balanced' reasoning.

As we noted earlier, there was no surprise in the ECB's monetary policy statement released moments ago, in which the central bank kept all three of its rates unchanged as expected, however it did confirm that QE is intended to to run "until the end of December 2017, or beyond, if necessary," and in a surprise addition added that "if the outlook becomes less favourable, or if financial conditions become inconsistent with further progress towards a sustained adjustment in the path of inflation, the Governing Council stands ready to increase the programme in terms of size and/or duration."

EURUSD seemed modestly surprised...

Live Feed (due to begin at 0830ET):