- Analytics
- News and Tools
- Market News
- EUR/USD: ECB policymakers favour measured cut – Scotiabank
EUR/USD: ECB policymakers favour measured cut – Scotiabank
ECB policymakers have perhaps said all that can possibly be said about the outlook for rates this week. The upshot of the range of comments from key officials is that rates will fall a bit more—and will quite likely drop again in December—but the case for a 50bps cut has not been made and more measured moves are (for the moment) preferable, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Euro steadies on the day
“Swaps continue to reflect 35bps of easing priced in for the December 12th meeting. Repricing ECB risks may give the EUR a bit more of a foothold around 1.08 in the short run.”
“The EUR closed on a relatively solid footing yesterday. The gain was relatively mild but it was the biggest one-day rise in a month. Bearish technical momentum looks neutral on the intraday chart and the daily RSI oscillator is starting to correct from oversold—a positive.”
“Spot is trading above minor trend resistance on the 6-hour chart this morning and that should provide sone underpinning for the EUR at 1.0800/10 intraday. A push above 1.0875, to set a fresh, short-term high, is needed to generate more lift, however.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
