As Tensions Ease Between the U.S and China, it’s all Eyes on the ECB
Tensions between the U.S and China ease, supporting risk ahead of the heavily anticipated ECB monetary policy decision later today.
The Day Ahead:
For the EUR:
The main event of the day is the ECB’s monetary policy decision and press conference later this afternoon. Expect plenty of EUR reaction to the monetary policy statement and throughout the ECB press conference.
There is some uncertainty over how far the ECB will go. Draghi has faced some opposition from other ECB members over reintroducing the QE program. It remains to be seen whether Draghi gets his way…
If all goes the way the markets hope, a return to $1.09 levels would be reasonable when factoring the FED’s likely rate cut next week.
Trading Central – EUR/JPY
For the Pound:
British Prime Minister Boris Johnson certainly has had a rough time of it, with yesterday’s ruling on the suspension of Parliament being unlawful yet another blow… The tougher it gets for the British PM, the better it is for the Pound…
Trading Central – GBP/JPY
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