The European Central Bank President Speech reflects the official position of the European Central Bank, therefore every speech is carefully examined by the market participants and analysts.
Mario Draghi is an Italian economist, who has been the President of the ECB since 2011. He often speaks in public: in addition to obligatory speeches in the European Parliament and its Committees, he participates in international economic forums, speaks at congresses and conferences, reads out the ECB's official statements (for example, Mario Draghi often holds the ECB's monetary policy press conference), and even lectures to students of leading world universities.
The President of the European regulatory body is the one who has the maximum influence on euro quotes among all other employees of the ECB and the EU supervisory bodies. The President has access to the full information on the intentions of the ECB Board and the opinions of its separate members. Therefore, the ECB President's statements are often carefully monitored by analysts and economists. The texts of the speeches are published on the ECB website.
If Mario Draghi's rhetoric suggests possible developments in the future monetary policy, such as the upcoming tightening or easing, this may have a short-term positive effect on the euro. If Draghi positively characterizes the labor market in the eurozone or states the inflationary growth, this can also be seen as positive for euro quotes. All these factors can give investors a hint of a near-term increase in the ECB's interest rate.