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3 Apr 2014
Small ECB cut expected - Danske Bank
Kasper Kirkegaard, Chief Analyst at Danske Bank notes that today, the ECB meeting will take centre stage also in the FX market.
Key Quotes
“If we are correct in forecasting a small rate cut from the ECB, it should take away some of the recent euro support and crosses like EUR/USD, EUR/JPY and EUR/GBP are all expected to edge lower.”
“In general, it seems that EUR/USD has a hard time trading above 1.38 and with an expected recovery in the US labour market report tomorrow, a move below 1.3650 in EUR/USD is likely this week.”
Key Quotes
“If we are correct in forecasting a small rate cut from the ECB, it should take away some of the recent euro support and crosses like EUR/USD, EUR/JPY and EUR/GBP are all expected to edge lower.”
“In general, it seems that EUR/USD has a hard time trading above 1.38 and with an expected recovery in the US labour market report tomorrow, a move below 1.3650 in EUR/USD is likely this week.”