Forex Flash: EUR to rise after ECB on disappointed doves – TD Securities

FXstreet.com (Barcelona) - The ECB decision should be the main focus of the day and TD Securities analysts expect a “wait and see” stance and a higher EUR afterwards: “The press conference will focus on semantics after the “wide discussion” of a rate cut last month, as well as the modalities of unwinding 3y LTROs, which would leave us with a small bias for rates and EUR higher after the meeting by disappointing the doves”, wrote analyst Alvin Pontoh, expecting also a non-event in the UK as the BoE announces its rates and asset purchases decisions, unanimously expected to remain on hold. “The bigger question for the BoE is what it will do at its Feb meeting; we think that asset purchase will remain unchanged then, but recognize that it could be a close decision, and that a couple of weak datapoints have the potential to change the picture”, Pontoh added.
 

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