Today, the main event is likely to be the ECB monetary policy decision. However, given that this will be Draghi’s last dance, we don’t believe that we will get any material information with regard to the Bank’s possible future course of action. We just expect a reiteration of the verdict that the Council remains ready to adjust its tools if needed. Apart from the ECB, we have two more central banks deciding on interest rates today: the Riksbank and the Norges Bank.
Last ECB Meeting with Draghi at the Helm
After a not-so-eventful day, the euro was found lower against most of the other G10s this morning, trading roughly within a ±0.40% range. The common currency underperformed versus GBP, NOK, SEK, NZD and CAD, while it gained against JPY, CHF and USD. It was found virtually unchanged against AUD
Today, the center of attention for EUR-traders is likely to be the ECB policy decision. Back in September, the Bank decided to cut its deposit rate by 10bps, to -0.50%, and announced a ...
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