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ECB is the real focus - Scotiabank

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that Tomorrow’s ECB meeting is the focus.

Key Quote:

" We do not expect a full scale launch of a sovereign QE program; particularly as Eurozone bond yields are already suppressed."

"More likely would be details on an ABS buying program, a focus on providing time for the package announced in June to take effect and even a small interest rate cut. We hold a year‐end 1.30 EUR target."

“The risk continues to be further downside. Support lies at the recent low of 1.3110, followed by psychological 1.3000; resistance comes in at recent congestion at 1.3180, followed by the August 25th open of 1.3211."

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