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Euro stable ahead of ECB

Wednesday, Jul 19 2017
Euro stable ahead of ECB

There were no data releases from Eurozone today, with traders being focused on tomorrow’s ECB Meeting. While the central bank will likely wait until September to announce how the program will be extended, it may use this month’s press conference – being the last before September – to lay the groundwork for such an announcement.

We may therefore get some insight into what the central bank is considering doing next. For example, will it lay out plans to phase out asset purchases over a certain period of time? Or will it simply announce another short extension while reducing the size of the program, as it did in December, while insisting it is not tapering? We may get some insight into this on Thursday. Of course, there is always the possibility that it simply extends the program as it is, although this appears the least likely option, which it may allude to.

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