All about ECB communications for EUR markets - ING
|In a lacklustre week for Eurozone data (with just PMI figures to note on Thu), it'll all be about ECB communications for EUR markets over the next five days, according to analysts at ING.
Key Quotes
“The minutes to the Oct ECB meeting (Thu) will be surveyed for any active dissenters within the Governing Council, while investors will also be looking to speeches by Draghi (today), Couere (Tue) and Praet (Thu) for subtle clues over the timing of the ECB's first deposit rate hike. Though officials have made it clear that this will not occur until the taper process has concluded, we suspect EUR bulls will be looking to pounce as early as possible on any pre-emptive hawkish re-pricing at the front-end of the Eurozone rate curve.”
“We currently see this as summer 2018 story – after the passing of the Italian election risk – which could result in EUR/$ trading up to 1.25. Ahead of this, we expect consolidation in the 1.15-1.20 range, with the fallout from the stalled German coalition talks adding a slight downside tilt to our EUR/$ bias this week. Expect the 1.1700/20 support area to hold for now.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.