A completely quiet morning of trading in Euro/Dollar pair with the exchanges just over a 1:35 line. For your second consecutive day the doors from the U.S. federal government are closed, and from now on is the big day with the monthly appointment using the European Central Bank.
Prepare for a roller coaster then, such as the afternoon the important news release of ADP NFP is expected and the evening Ben Bernanke through the Federal Reserve Bank of St. Louis will require his speech.
The situation within the EUR/USD exchange
Throughout the Asian session, the euro/dollar exchange fell to over 1.3507 before time for gradually rise and settle in the area of 1.3520 during the European morning, having a maximum reached at 1.3540.
Range is identified at this time within an area between 1:35 and 1.3570; this area, getting nearer to the appointment with the ECB, could be susceptible to the test phase.
Today the ECB: do you know the expectations?
There is a general consensus concerning the possibility that today the ECB will choose to take no action on any front, regardless of what will be the key issues for future years developments within the Eurozone. But let’s see what exactly are analysts’ expectations from today’s market using the European Central Bank.
Goldman Sachs: Rates of interest unchanged, no changes to monetary policy with no indication of future cuts;
Barclays: unchanged monetary plan, concentrate on Draghi and the possibility to relate to new liquidity operations or the strength from the European currency;
Credit Agricole: no in order to monetary policy, but it is possible that this new round of LTRO is going to be left "on the table". A potential surprise will be the pre-announcement from the intention of cutting refinancing rates.
Bank of America ML: maximum focus on the question and answer session with journalists, primary will be the new possible LTRO.
Prepare for a roller coaster then, such as the afternoon the important news release of ADP NFP is expected and the evening Ben Bernanke through the Federal Reserve Bank of St. Louis will require his speech.
The situation within the EUR/USD exchange
Throughout the Asian session, the euro/dollar exchange fell to over 1.3507 before time for gradually rise and settle in the area of 1.3520 during the European morning, having a maximum reached at 1.3540.
Range is identified at this time within an area between 1:35 and 1.3570; this area, getting nearer to the appointment with the ECB, could be susceptible to the test phase.
Today the ECB: do you know the expectations?
There is a general consensus concerning the possibility that today the ECB will choose to take no action on any front, regardless of what will be the key issues for future years developments within the Eurozone. But let’s see what exactly are analysts’ expectations from today’s market using the European Central Bank.
Goldman Sachs: Rates of interest unchanged, no changes to monetary policy with no indication of future cuts;
Barclays: unchanged monetary plan, concentrate on Draghi and the possibility to relate to new liquidity operations or the strength from the European currency;
Credit Agricole: no in order to monetary policy, but it is possible that this new round of LTRO is going to be left "on the table". A potential surprise will be the pre-announcement from the intention of cutting refinancing rates.
Bank of America ML: maximum focus on the question and answer session with journalists, primary will be the new possible LTRO.
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