12:45 ECB Minimum Bid Rate and 13:30 Press Conference - SELL EUR
The big question is will the ECB disappoint the markets at 12:45 as they did last December with a predictable rate change and a cautious change in the QE program.
The odds are high that they will.
Considering all the ECB's policy measures are limited at best and that the ECB will need to leave some measures off the table for future intervention, its a fair bet that we could see the EURO strengthen if we see just a 10 basis point cut and a £10b increase in QE.
Should the ECB decide its time for more decisive action and we see a 20 basis point cut and a £20b increase in QE, we may see the EURO come under pressure.
I'm positioning SHORT before the announcement on the assumption that we are left in fairly neutral territory and we see a resumption of EUR/GBP's declines from .7926.
I'm SHORT this market at .7721 with a STOP at .7737. Target is open.
The odds are high that they will.
Considering all the ECB's policy measures are limited at best and that the ECB will need to leave some measures off the table for future intervention, its a fair bet that we could see the EURO strengthen if we see just a 10 basis point cut and a £10b increase in QE.
Should the ECB decide its time for more decisive action and we see a 20 basis point cut and a £20b increase in QE, we may see the EURO come under pressure.
I'm positioning SHORT before the announcement on the assumption that we are left in fairly neutral territory and we see a resumption of EUR/GBP's declines from .7926.
I'm SHORT this market at .7721 with a STOP at .7737. Target is open.
Trade active:
SHORT from .7721
STOP .7737
Target - OPEN
STOP .7737
Target - OPEN