Investors speculating on future ECB moves

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Wednesday, Feb 24 2016

There are no data releases from Eurozone today, with euro continuing to decline. Markets are turned to speculations on future ECB moves. Mario Draghi has two weeks left to decide how to ramp up stimulus in a way that doesn’t upset either his colleagues or investors. When European Central Bank policy makers meet in Frankfurt from March 9-10, they’ll consider whether negative interest rates and 60 billion euros ($67 billion) a month of debt purchases is enough to revive consumer prices.

With another rate cut priced in by markets, the biggest question mark hangs over how to customize quantitative easing. The ECB president has said there are no limits to how far policy makers will go within their mandate, yet sub-zero rates carry risks and expanding QE is easier said than done. He’ll walk a fine line between convincing investors he can overcome the hurdles and avoiding the market disappointment that greeted the last adjustment in December.

Euro is currently being traded few points above 1.0970 level. Pair is likely to find support around 1.09 handle and resistance above 1.10 level. Later today, in the US session, New Home Sales figures are scheduled for a release.

More in this category: « BBA Mortgage Approvals rose more than expected New Home Sales declined 9.2% »

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