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Forex Flash: EUR/USD posed for further weakness after ECB – Scotiabank

By FXstreet.com,  January 09, 2013, 02:09:00 PM EDT

FXstreet.com (Barcelona) - The single currency remains glued to the 1.3050 region, ahead of tomorrow's ECB monetary policy meeting.

In light of the recent poor releases in the euro bloc, Chief Currency Strategist at Scotiabank, Camilla Sutton, argues ". In this environment the pressure on the ECB to cut rates to 0.5% is mounting. We do not expect an interest rate cut tomorrow… however we do expect President Draghi's tone to be notably dovish and for the press conference's Q&A to focus on the OMT, the potential for negative interest rates and the state of the European economy. This discussion is most likely to drive EUR weakness".




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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