ECB to leave policy on hold – TDS

Analysts at TD Securities expect the ECB to leave policy on hold, and to provide no new information regarding the conclusion of QE later this year.

Key Quotes

“While risks are likely to remain balanced, we expect a somewhat downbeat tone to the press conference, as Draghi acknowledges that downside risks have somewhat intensified.”

“FX: Dovish risks appear to be well reflected in EURUSD with key support emerging at 1.13. Appetite to push below should be low ahead of US mid-terms though balanced ECB risks may offer modest relief to EURUSD.”