FXstreet.com (Barcelona) - ECB’s Asmussen gave a speech on Monday and revealed the central bank’s plans in “purchasing government bonds (with short maturities) but only in parallel with EFSF/ESM bailout programs”, wrote TD Securities analyst Annette Beacher, adding that details will be discussed at the ECB Governing Council’s Sept 6 policy meeting.
While the market focuses on the bond buying plan, the Eurozone M3 money supply data for July will be published at 08:00 GMT (market consensus of 3M growth from 3.0% to 3.1% and YoY growth from 3.2% to 3.3%). “The ECB will continue to monitor the data for a reading on credit demand and supply and the potential need for rate cuts and LTROs”, added Beacher.
While the market focuses on the bond buying plan, the Eurozone M3 money supply data for July will be published at 08:00 GMT (market consensus of 3M growth from 3.0% to 3.1% and YoY growth from 3.2% to 3.3%). “The ECB will continue to monitor the data for a reading on credit demand and supply and the potential need for rate cuts and LTROs”, added Beacher.
