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Since Donald Trump was elected as the new US President on the 8th of November, the dollar has surged against a basket of currencies.

Mario Draghi said an abrupt ending to bond purchases is unlikely; quashing hints that the ECB would start tapering.

Like the Bank of England (BoE), the European Central Bank (ECB) has not changed its monetary policy at its first meeting since Brexit.

ECB left its key interest rates unchanged, saying it was willing to leave the rates "at present or lower levels for an extended period of time.

ECB chair Mario Draghi’s forward assessment for the Eurozone proved to be far more downbeat than markets had expected. In his statement, Draghi predicted that that inflation will remain subdued for “some years” to come and that this is likely to be a threat to future growth in the Eurozone.

We see several risks on the horizon for the Euro. Data out of the Euro zone is painting a bleak picture of stagnation and deflation. On Thursday 18th, the ECB’s president Mario Draghi will make a statement to European leaders.

Several factors are unsettling the market. Firstly, data released last week suggests that the slowdown in Asia, especially in China is worse than feared.

Remarkable strength in the US economy and labor market has increased the chances of interest rate rises in the U.S next year. Next Thursday we will see the US retail sales report, and this will give insight into the all-important November consumer spending data.