EU's Tusk: Lagarde would be perfect head of ECB

European Council President Donald Tusk crossed the wires in the last minutes, via Reuters, saying that EU leaders have agreed whold top jobs package before the first session of the new EU Parliament and added that Lagarde will be the "perfect head of the European Central Bank." Below are some key takeaways.

"Germany abstained on Von der Leyen as Commission head."

"Our intention is to have a socialist president of EU Parliament for first term, then centre-right candidate for second term."

"Absolutely sure Lagarde would be independent president of ECB."

"Huge question mark if EU parliament would endorse top jobs package as agreed by EU national leaders."

"EU Parliament's lead candidates were not binding for national EU leaders; but EU leaders wanted to respect these people and the process."

The EUR/USD pair's reaction to the announcement of Lagarde as the next President of the ECB seems mixed. As of writing, the pair was up 0.15% on the day at 1.1300.