According to Tim Riddell, senior market strategist at Westpac, the slashing of ECB forecasts and the proactive initiation (still to be detailed) of further TLTROs underscore the persistent need for extraordinary accommodation within the Eurozone. Key Quotes “The ECB has additionally extended the potential of an end to its Negative Interest Rate Policy (NIRP) into next year.” “Markets are likely to focus on interest rate differentials favouring US and so maintain a EUR downside bias. However, the purpose of ECB’s policy accommodation is to bolster vulnerable sentiment and expectations. ZEW’s Eurozone expectations and EC’s regional consumer confidence have shown tentative signs of basing and an upturn could at least limit the downside should EUR/USD break below 1.1250.” “In the interim, UK’s inability to agree a Withdrawal Agreement is likely to cloud sentiment into the EU Leaders’ Summit (21st-22nd) and also raise political concerns around the forthcoming elections for the EU Parliament (18th-23rd May).” “EUR/USD rebounds should be capped in the low 1.14s with rate differentials likely to drive a redefining of recent lows in the 1.12s.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next TD Securities: GBP failed to break through the range highs FX Street 4 years According to Tim Riddell, senior market strategist at Westpac, the slashing of ECB forecasts and the proactive initiation (still to be detailed) of further TLTROs underscore the persistent need for extraordinary accommodation within the Eurozone. Key Quotes "The ECB has additionally extended the potential of an end to its Negative Interest Rate Policy (NIRP) into next year." "Markets are likely to focus on interest rate differentials favouring US and so maintain a EUR downside bias. However, the purpose of ECB's policy accommodation is to bolster vulnerable sentiment and expectations. ZEW's Eurozone expectations… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
