Forex: EUR/USD advances as Draghi speaks

Even though the euro saw a quick slide against the dollar at the beginning of ECB Draghi speech, EUR/USD quickly bounced to fresh daily highs as investors continue to assess the latest string of US data and central banker's words.

EUR/USD fell to the 1.2990 zone as knee-jerk reaction but then rose nearly 70 pips in a matter of minute to reach a fresh weekly high of 1.3080. At time of writing, EUR/USD is trading around 1.3070, 0.8% above its opening price.

In the US, the latest string of US data showed that even as US jobless claims fell more than expected last week, the trade deficit unexpectedly widened.