6 Feb 2014
Flash: Will Draghi sound dovish? - OCBC
FXStreet (Bali) - According to Emmanuel Ng, FX Strategist at OCBC Bank, any dovish commentary by Draghi should weight on the Euro.
Key Quotes
"EUR-USD EZ Jan PMIs and retail sales numbers came in mixed to slightly softer than expected but expect the pair to remain moribund into the ECB meeting later today (1245 GMT) within a familiar 1.3470-1.3565 range. Any further dovish commentary from Draghi may play into the market’s hands and weigh on the pair."
"On a related note, we also grow increasingly constructive on the EUR-GBP’s upside potential, given that the BOE may have greater space to ‘disappoint’ relative to the ECB."
Key Quotes
"EUR-USD EZ Jan PMIs and retail sales numbers came in mixed to slightly softer than expected but expect the pair to remain moribund into the ECB meeting later today (1245 GMT) within a familiar 1.3470-1.3565 range. Any further dovish commentary from Draghi may play into the market’s hands and weigh on the pair."
"On a related note, we also grow increasingly constructive on the EUR-GBP’s upside potential, given that the BOE may have greater space to ‘disappoint’ relative to the ECB."