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Trading news
13 Mar 2020
ECB: EUR/USD heading lower as looks for fiscal measures – Danske Bank
The ECB has decided to announce a multifaceted package focusing on liquidity, a temporary increase in the QE envelope of a total EUR120bn to be implemented by year-end and leaving policy rates unchanged, analysts at Danske Bank brief.
Key quotes
“The package underwhelmed the market, which saw in particular risk-off, with spread widening between peripheral and core bonds.”
“We believe the ECB is done with policy stimulus, unless things turn markedly worse.”
“We believe EUR/USD is likely to turn its attention to potential fiscal measures being taken in the US and Europe, although little has happened as of yet.”
“EUR/USD is evolving on a day-to-day basis but we believe it is likely EUR/USD is heading lower.”