FXstreet.com (Barcelona) - The single currency has accelerated its downside in the European midday, as the risk-rally after the EU Summit statement at the end of last week is now a vague memory. The euro is trading in the lower end of today’s price range, near the lows in the 1.2610 region.
In the view of K.Kirkegaard, Senior Analyst at Danske Bank, implementation risk after the EU meeting plus the ECB monetary policy meeting ahead in the week “…should help put a cap on EUR/USD upside…”.
The expert also comments that “…a 25bp refi rate cut is largely priced and focus will be on whether the ECB also delivers a deposit rate cut and whether new long LTROs have become more likely. We prefer to stay neutral in EUR/USD for now…”
In the view of K.Kirkegaard, Senior Analyst at Danske Bank, implementation risk after the EU meeting plus the ECB monetary policy meeting ahead in the week “…should help put a cap on EUR/USD upside…”.
The expert also comments that “…a 25bp refi rate cut is largely priced and focus will be on whether the ECB also delivers a deposit rate cut and whether new long LTROs have become more likely. We prefer to stay neutral in EUR/USD for now…”
