Todays Price Action In The FX Markets
EURUSD and GBPUSD
Big day for the two with the ECB and BoE meetings
This was my preview before the event-
ECB Preview
* All policy change effected in the year so far, so no more expected in the foreseeable future.
* Next move will be to signal an end to the APP program, which is set to run until Sep 2018 at a reduced Eur30bln, but remains open ended as yet.
* ECB staff projections will likely be revised higher on growth, echoing the optimism reflected in the rhetoric among the governing council members.
* Revisions to inflation may also be modestly revised up, but is unlikely to elicit much of a response from the market given the general malaise seen globally.
Big day for the two with the ECB and BoE meetings
This was my preview before the event-
ECB Preview
* All policy change effected in the year so far, so no more expected in the foreseeable future.
* Next move will be to signal an end to the APP program, which is set to run until Sep 2018 at a reduced Eur30bln, but remains open ended as yet.
* ECB staff projections will likely be revised higher on growth, echoing the optimism reflected in the rhetoric among the governing council members.
* Revisions to inflation may also be modestly revised up, but is unlikely to elicit much of a response from the market given the general malaise seen globally.