Bullish Euro Momentum Wanes Ahead of ECB- Key Reversal on Tap? By David Song, Currency Analyst 02 October 2013 07:00 GMT - European Central Bank (ECB) to Stay on Hold; Utilize Forward Guidance - President Mario Draghi Has Hinted at Another Long-Term Refinancing Operation (LTRO) Trading the News: European Central Bank Interest Rate Decision The European Central Bank (ECB) is expected to keep the benchmark interest rate at 0.50% as the monetary union returns to growth, but President Mario Draghi may show a greater willingness further embark on the easing cycle in an effort to encourage a stronger recovery. What’s Expected: Time of release: 10/02/2013 11:45 GMT, 7:45 EDT Primary Pair Impact: EURUSD Expected: 0.50% Previous: 0.50% DailyFX Forecast: 0.50% Why Is This Event Important: During his testimony in front of the European Parliament, President Draghi argued that the central bank could implement another LTRO if needed, and the Governing Council may sounds more dovish this time around amid the growing threat for deflation. Expectations: Bearish Argument/Scenario Release Expected Actual Euro-Zone Consumer Price Index (YoY) (SEP A) 1.2% 1.1%
Posted on: Wed, 02 Oct 2013 09:15:39 +0000
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