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

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD supported by EUR/crosses, GBP weighed down – FXMarketAlerts

  2. Forex News

    EUR/USD: consolidation with downside bias – AceTrader

  3. Forex News

    GBP/USD Technical Analysis: Pound Drops Most in 6 Weeks

  4. Forex News

    US 10-year yields headed for a break of 2.25%? - BBH

  5. Forex News

    EUR/USD Technical Analysis: Rebound Stalls Below 1.13

Trading Center