76
Currency Analyst since 2010

ECB meeting and EUR/USD scenario

The ECB meeting results will be announced at 12:45 GMT. Mario Draghi will start speaking at 13:30 GMT.

The majority of analysts think that the central bank will leave its benchmark rate unchanged. Goldman Sachs thinks that the ECB may express more explicitly its concern about the recent EUR strength and deflation. Barclays and Citi point out that the ECB will stay on hold today, so there may be a knee-jerk EUR/USD move higher. However, Mario Draghi is likely to signal willingness to cut rates before long (in December when new forecasts are released), so the specialists recommend selling EUR on any rally.

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