Who is Buying Euros Today

In what is a fairly quiet day for markets today’s German Industrial data for October will be watched particularly closely given ongoing concerns that economic growth in the euro areas largest economy is faltering.

Mario Draghi is about to get an idea of how far reality falls short of his intentions. Draghi has promised the ECB will act should current stimulus prove insufficient when it is reassessed early next year, and the central bank is said to be preparing a QE package to be discussed at the next monetary policy meeting on Jan. 22.

Super Mario is going to have to be buying euros in the millions to get the euro zone out of debt. But German is complaining already and there are rumors that Draghi will quit before his plan to save the Euro Zone is put in Place.

German could shot itself in the foot here and the UK should be very glad that it is not part of the EU.