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In the global FX markets today’s ECB meeting will take centre stage. We expect the asset-backed securities (ABS) and covered bond purchase programmes to be in focus at this meeting, while the Q&A se

FXStreet (Edinburgh) - In the view of Flemming Nielsen, Senior Analyst at Danske Bank, the prospects for additional easing by the ECB will keep EUR-bulls at bay for the time being.

Key Quotes

“In the global FX markets today’s ECB meeting will take centre stage”.

“We expect the asset-backed securities (ABS) and covered bond purchase programmes to be in focus at this meeting, while the Q&A session at the press conference will most likely centre on the ECB’s new soft target – an expansion of its balance sheet ‘towards the dimensions it used to have at the beginning of 2012’”.

“While Draghi is likely to strike a dovish tone, the ECB meeting may be a disappointment for those expecting more fireworks”.

“However, we expect that speculations of additional ECB easing (QE) will remain a theme in market in the coming months – this will weigh further on the EUR”.

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