EUR/USD stays wary of the ECB – Danske Bank
|Chief Analyst at Danske Bank Jens Pedersen exepects the single currency to stay under pressure in light of the ECB meeting and the likely dovish tone from President M.Draghi.
Key Quotes
“Today, focus will be on the central bank meetings at the ECB and the Riksbank. As we are unlikely to get any details on the ECB’s possible extension of QE beyond 2017, the main thing to look for is whether Draghi addresses some concerns about the past months’ pace of EUR appreciation”.
“With EUR/USD trading above 1.19 there could be some room on the downside for the cross if Draghi addresses the recent EUR appreciation. However, we maintain that dips in EUR/USD will be short-lived, and we believe any decline should be used to position for a further move up in EUR/USD on a 6 -12M horizon”.
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.