Analysts at TD Securities are looking for this ECB meeting to largely be a summertime placeholder.
Key Quotes
“The only real burning question is around the translation issues with the rates guidance; we hope for more clarity from Draghi, but expect that he may waffle around giving more specific month-by-month guidance.”
“FX: Friday’s US GDP reading may be a bigger EUR driver this week if the ECB remains mostly copy/paste from June. We expect EURUSD to remain choppy within recent ranges unless a clear directional surprise emerges.”
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