Draghi to strike a dovish tone - Westpac

By FXstreet.com | Updated August 06, 2014 AAA

FXStreet (Bali) - According to Westpac FX Strategists, while Draghi’s press conference on Thu should be low key, chances are high he will strike a dovish tone.



Key Quotes



"Draghi’s press conference on Thu should be low key with the ECB in wait and see mode as June’s easing measures filter through the region and with the Bank still focused on implementing TLTRO as well as preparations for outright ABS purchases."



"That said, Draghi is sure to strike a dovish tone, especially after the 0.4% y/y headline CPI reading. EUR is showing some backbone on multiple crosses, highlighting a shift away from broad EUR weakness to broad USD strength. But we suspect it won’t be long before EUR-cross selling resumes. EUR/GBP a sell into 0.7980."



You May Also Like

Related Forex Analysis
  1. Fed and ECB to go separate ways - Commerzbank
    Forex News

    Fed and ECB to go separate ways - Commerzbank

  2. EUR/USD extends gains after Weidmann’s comments
    Forex News

    EUR/USD extends gains after Weidmann’s comments

  3. GBP/USD bid within broader bearish trend
    Forex News

    GBP/USD bid within broader bearish trend

  4. US Dollar Faces Tough Test, Japanese Yen Remains Focus
    Forex News

    US Dollar Faces Tough Test, Japanese Yen Remains Focus

  5. EUR/USD pushing higher, 1.2430
    Forex News

    EUR/USD pushing higher, 1.2430

Trading Center