20 Jan 2016
ECB: favour fading gains - Scotiabank
FXStreet (Guatemala) - Shaun Osborne Chief FX Strategist at Scotiabank noted that spot remains stuck in a range.
Key Quotes:
"We note that the EUR’s negative, short-term correlation (rolling 1-month) with the (US) equity market performance remains relatively elevated (-64%) but the EUR appears to have found less traction on this week’s equity market swings overall."
"The trading range that has held since the December ECB policy meeting remains more or less intact. We see no scope for additional policy measures at Thursday’s ECB meeting but we still rather favour fading EUR gains, given the low inflation environment confronting the ECB."
Can the ECB bring the EUR back to life?
You can watch the live coverage of the ECB with us here.
Key Quotes:
"We note that the EUR’s negative, short-term correlation (rolling 1-month) with the (US) equity market performance remains relatively elevated (-64%) but the EUR appears to have found less traction on this week’s equity market swings overall."
"The trading range that has held since the December ECB policy meeting remains more or less intact. We see no scope for additional policy measures at Thursday’s ECB meeting but we still rather favour fading EUR gains, given the low inflation environment confronting the ECB."
Can the ECB bring the EUR back to life?
You can watch the live coverage of the ECB with us here.