ECB may trigger a bit of EUR/USD upside – Danske

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EUR/USD has been on the rise due to the dollar’s weakness and high hopes for a Brexit deal. The focus now shifts to the European Central Bank.

Here is their view, courtesy of eFXdata:

Danske Research discusses its expectations around next week’s ECB policy meeting.

“Next week’s ECB meeting is Draghi’s final meeting before leaving office on 31 October. Despite lower inflation expectations, we do not expect any new policy measures/changes as the September package is yet to be implemented. The focus will be on the recent public disagreement in the governing council as well as tiering implementation,” Danske notes.

“With no change in policies at the ECB meeting, we do not expect a change in current market dynamics coming from the ECB, but rather the global environment. Market reactions are therefore expected to be relatively muted next week, albeit we acknowledge a bit of upside to EUR/USD on the day,” Danske adds.

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Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.

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