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ECB and Eurozone GDP amongst market movers today – Danske Bank

According to analysts at Danske Bank, focus in markets remains on US trade talks - with short-term emphasis on Mexico, and speculation of central bank easing for most notably the Fed.

Key Quotes

“Today's highlight is the ECB meeting, with a policy statement to be released at 13:45 CEST and a press conference at 14:30 CEST. We expect the ECB to maintain its easing bias, with no new additional stimulus measures announced. The update of the staff projections is unlikely to change much for inflation, but we see a downside risk to the 2020-21 growth forecast from its already low level. We will also get more information on the TLTRO3 terms, which we expect to be favourable in light of the ongoing struggles of the economy.”

“We will also get euro area GDP details for Q1. We will closely monitor the domestic demand drivers and see how they fared; private consumption and fixed investments were probably strong judging from the German figures already released.”

“In the US, we get the jobless claims, which will attract attention ahead of tomorrow's NFP number amid contradicting labour market signals yesterday. We expect initial jobless claims to come in at the low end.”

Author

Sandeep Kanihama

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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