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24 Feb 2014
Flash: All eyes on the ECB - BTMU
FXStreet (Barcelona) - Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, remarked the relevance of next week's ECB meeting for the EUR/USD.
Key Quotes
"The euro continues to grind gradually higher against the US dollar in the near-term having regained renewed upward momentum after the ECB disappointed investor expectations looking for further monetary easing at their last meeting in early February. It remains a close call as to whether the ECB will deliver further monetary easing at the next policy meeting on the 6th March."
"At their last policy meeting ECB President Draghi signalled that the release of the latest ECB staff forecasts will play an important part in policymaking with the CPI forecast for 2016 released for the first time. The release of the latest CPI report for February may also prove important with another downside surprise perhaps required to trigger further easing next week. Without further ECB monetary easing the euro may even strengthen further still in the month ahead."
Key Quotes
"The euro continues to grind gradually higher against the US dollar in the near-term having regained renewed upward momentum after the ECB disappointed investor expectations looking for further monetary easing at their last meeting in early February. It remains a close call as to whether the ECB will deliver further monetary easing at the next policy meeting on the 6th March."
"At their last policy meeting ECB President Draghi signalled that the release of the latest ECB staff forecasts will play an important part in policymaking with the CPI forecast for 2016 released for the first time. The release of the latest CPI report for February may also prove important with another downside surprise perhaps required to trigger further easing next week. Without further ECB monetary easing the euro may even strengthen further still in the month ahead."