When is Draghi's speech at the JAckson Hole and how might it affect EUR/USD?

Draghi's speech overview

European Central Bank President Draghi is speaking at the Federal Reserve Bank of Kansas City’s Economic Symposium at Jackson Hole, scheduled for 19.00GMT.

While there is much anticipation ahead of his speech, assuming though that he doesn't ignite too many fireworks he might be expected to lean on the dovish side considering the strength of the euro that has challenged the ECB in getting inflation higher, as explained by analysts at Danske Bank who noted that this has been causing some concern within the ECB, according to the minutes from the previous meeting. 

"A recent Reuters' story quoted two ECB sources saying he would not be giving any new policy signals but await the tapering discussion in the ECB Council in the autumn,” the analysts explained.

How could the speech affect EUR/USD?

EUR/USD has been gathering momentum on the market reaction to Yellen firing banks at her speech earlier and is en route for the 1.19 handle on a clear break of 1.1880, beyond today's highs of 1.1886 so far. With markets in hope of some clarity with respect to the ECB's timings for proposed tapering, anything forthcoming in that respect could be a catalyst for such a move that would bring in the big 1.20 level into scope. On the expected dovish outcome of today, 1.1780 and 1.1720 are key areas of support.

Key notes:

Jackson Hole: Draghi and Yellen amongst market movers today – Danske Bank

ECB to vote to end to asset purchasing program on Oct 26 - RND

About Draghi

The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated from the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. He gives a press conference at the Jackson Hole Economic Policy Symposium, a forum for central bankers, policy experts, and academics. His comments may determine a short-term positive or negative trend. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).