With the European Center Bank meeting the focus today, traders are expecting Mr. Draghi to hold rates and policy and at his press conference to remain neutral on the rate of the euro. He is not expected to talk up the euro, which some believe is trading to high. He will choose his words very carefully. Markets today will react to the movement in the euro. Gold prices were slightly up ahead of the ECB policy meeting today which would give a clear picture of the monetary outlook for the eurozone. The upside was also limited on hopes of a brighter economic outlook which has supported industrial metals like platinum and palladium more than gold.
By FX Empire Analyst - Barry Norman
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