OctaFX | OctaFX Forex Broker
Open trading account

Odds of more ECB easing increase - Ilian Yotov

FXStreet (Łódź) - Ilian Yotov, Portfolio Manager at ATFX Currency Management believes that there is more possibility of the ECB announcing monetary policy easing at the meeting on Thursday due to the further decline in Eurozone CPI and the area's growth grinding to a halt in Q2.

Key quotes

"The ECB President Draghi has also been very clear in recent speeches that the door is wide open to easing monetary policy further."

"In fact, the ECB has announced recently that it is looking to hire consultants to advise the central bank on QE strategies."

"With the ECB one step closer to launching a QE program, the divergence in the monetary policies between the ECB and other central banks is becoming bigger and even more visible, which should keep the EUR under pressure."

A further increase in UK Services PMI - BNP Paribas

Catherine Stephan, economist at BNP Paribas, comments on the UK PMI Services data which increased in August against forecasts.
Read more Previous

GBP/USD erases daily gains

GBP/USD benefited from solid UK Aug service PMI (60.60 versus exp 58.50) and rose to near 1.6600 during the European session, but the pair found resistance ahead of the psychological level and pulled back.
Read more Next
Start livechat