Announcement on the next ECB President could be delayed until September - TDS
|The analysts at TD Securities (TDS) express their thoughts on the next European Central Bank President announcement after a German official said that it could be delayed until September.
Key Quotes:
“Announcement on the next ECB President could be delayed until September according to an unnamed German official — Rehn would be an easy "neutral" appointment to make (as he's not French or German) if negotiations for the big political jobs remain seized up.
As for markets, we think that any initial move in EUR would be based on a simple, knee-jerk Weidmann (up) or not-Weidmann (down) reaction.
We would note that of the leading candidates, it seems that Rehn is the most dovish of the bunch, as he's the only one who has repeated Draghi's sentiment from the Sintra conference, that "In the absence of improvement... additional stimulus will be required." So he should be seen as more of a continuity candidate, carrying on Draghi's dovish and activist stance.”
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.