OctaFX | OctaFX Forex Broker
Open trading account
Back

Barclays advises to stay short EUR/USD into ECB meeting and US NFP report - eFXnews

FXStreet (Łódź) - The eFXnews team comment that Barclay's suggests investors remain short EUR/ECB into the ECB monetary policy meeting today and tomorrow's publication of US employment numbers.

Key quotes


"'ECB President Draghi will likely stay on the dovish side at the press conference following the ECB meeting. While no policy change is expected after a large move at the September meeting, the markets will be watching for the details of ABS/CB purchase program to be released at this meeting and any sign of future EGB purchase during his press conference, which we expect to be officially announced by Q1 15,' Barclays projects."

"'In the US, the September employment report will be the focus and we expect solid employment report and look for decent upside surprises, with September headline nonfarm payrolls of 250k (consensus: 215k) and a one-tenth decline in the unemployment rate, to 6.0% (consensus: 6.1%),' Barclays adds."

"'Such divergence in data and monetary policy outlook between the US and the euro area should confirm our medium-term EURUSD bearish view,' Barclays concludes."

'This content has been provided under specific arrangement with eFXnews.'

No ECB action expected, only explanations and possible promises made - Adam Narczewski

Adam Narczewski, CFA, Financial Analyst at X-Trade Brokers, XTB beliueves that the ECB shouldn't modify its monetary policy at today's meeting, but might elaborate upon the recently implemented measures.
Read more Previous

USD/JPY range bound between 108.00-110.00 – OCBC Bank

Emmanuel Ng, FX Strategist at OCBC Bank, sees the pair meandering between 108.00 and 110.00 ahead of Friday’s Non farm Payrolls...
Read more Next
Start livechat