ECB expected to stay put with no fireworks – TDS

FXStreet (Delhi) – Research Team at TD Securities, suggest that looking ahead to tomorrow, the ECB is expected to stand pat and we do not expect to see much fireworks.

Key Quotes

“Our base case is for the ECB to extend and augment QE by the end of the year and we think that while it is a risk tomorrow, there is no urgency at the moment. Instead, we expect to see dovish language that should keep the upside in EURUSD capped but we think there is a contingent out there looking for additional easing so the risk is that the cross rallies. If so, we would fade it towards 1.15.”