According to Rabobank analysts, Mario Draghi’s final meeting as President of the ECB today should be a relatively uneventful policy-wise.
Key Quotes
“A comprehensive policy package was announced only last month and this has yet to be implemented fully (recall that both net asset purchases and the tiered remuneration of excess reserves will only start at the end of this month).”
“Nonetheless, President Draghi’s farewell may not be the party he was hoping for. The ECB’s latest policy decision caused quite some division in the Council. Moreover, the ECB President is waving goodbye against an economic backdrop that is not as bright as he would have liked to see it as he leaves office.”
“If the incoming data remain weak, incoming President Lagarde may have to step in Draghi’s footsteps and lower the ECB’s deposit rate again at her first policy meeting in December. But we do note that division in the Council has increased the likelihood that the next cut will be delayed into 2020.”
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. The author will not be held responsible for information that is found at the end of links posted on this page.
Recommended content
Editors’ Picks
AUD/USD remains heavy toward 0.6400 as RBA Bullock's presser gets underway
AUD/USD stays under heavy selling pressure and eyes 0.6400 in early Europe on Tuesday. The RBA cut interest rate by 25 bps to 3.85% and trimmed inflation and growth forecast on US tariffs impact, as expected. Governor Bullock's speaks on policy outlook at the press conference.
EUR/USD tests descending channel’s upper boundary near 1.1250
EUR/USD remains steady after registering more than 0.50% gains in the previous session, trading around 1.1240 during the Asian hours on Tuesday. On the daily chart, technical analysis indicates a bearish bias is in play, as the pair continues to trade lower within a descending channel pattern.
Gold price sticks to intraday losses amid positive risk tone; holds above $3,200
Gold price maintains its offered tone through the Asian session on Tuesday though it manages to hold above the $3,200 round figure. Against the backdrop of rising trade optimism, hopes for a Russia-Ukraine ceasefire remain supportive of a positive risk tone.
Solana set for a consensus switch with the introduction of Alpenglow
Solana (SOL) showed signs of recovery in the American trading session on Monday following the introduction of a new consensus protocol, Alpenglow, which would replace the network's current Proof-of-History and TowerBFT mechanisms.
China April slowdown shows the impact of economic uncertainty
Trade war uncertainty is denting Chinese confidence, resulting in slower economic activity in April. Retail sales and fixed-asset investment both underperformed forecasts amid heightened caution. Yet the impact on manufacturing was less than feared.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.