Forex Flash: Market more optimistic about ECB stimulus – TD Securities

FXstreet.com (Barcelona) - After the announcement that the ECB President Draghi canceled his presence in the central bankers' meeting at Jackson Hole on Friday moved the EURUSD to the upside, above 1.2550 area. TD Securities analysts attribute the rally to higher expectations of action: "Reports that ECB President Draghi will not attend this Friday's Jackson Hole meeting due to "heavy workload" appear to have been taken positively as a signal that the ECB may announce fresh stimulus next week, with EURUSD holding above 1.2550 overnight", wrote analyst Alvin Pontoh, highlighting today's Fed's Beige Book and the second estimate of US GDP.

In the meantime, Germany will have its CPI inflation report for August, expected to remain around +2.0% or little below, with no impact on ECB action.