FXStreet (Edinburgh) - Strategist at Societe Generale Kit Juckes has emphasized today’s speech by ECB’s Draghi and its potential implications in EUR/USD.
Key Quotes
“Which brings me back to EUR/USD. Mario Draghi will speak at the BOE event in London today, though comments about policy seem unlikely. EUR/USD has stalled”.
“The market expects the Fed and ECB to act in December, and maybe the reality of moves will still give the dollar a lift, but from here, it is the longer-term outlook for rates which is more important”.
“Has the US labour market tightened enough to make market participants rethink the terminal Fed Funds rate? If they do that, or if Mr Draghi drives home his dovish stance forcefully enough, we can drive the Treasury/Bund spread wider. But perhaps not today...”.
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