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Analysts at Danske Bank suggest that today when the ECB President Mario Draghi takes the stand, they do not expect it to be a big event for EUR/USD.

Key Quotes

“Over the past few years, the EUR/USD has ended the press conference within +/-0.3%, compared with the start.”

“As we see little possibility of the ECB announcing any new policy signals, we look for this pattern to continue.”

“In the big picture, the ECB’s monetary policy is slowly beginning to become more EUR positive. See, for example, the development in EUR liquidity this year, which has stopped increasing.”

“ECB monetary policy could turn further EUR-positive in 2019, once the ECB has ended quantitative easing and a rate hike looms. We forecast EUR/USD at 1.13 in 3M, 1.18 in 6M and 1.25 in 12M.”

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