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Odds of an ECB Surprise?

Odds of an ECB Surprise?

6 Years ago | June 04, 2014 00:00:00

As I noted in our June newsletter, the focus to start the month is on the ECB meeting and to what extent monetary easing is already discounted in the markets. As we all know, markets move on surprises so it is worth taking some time to see what would be considered a surprise from the ECB. The price action over the past two weeks, where EURUSD has traded within a 1.3584-1.3688, lately narrowing to 1.3584-1.3650, suggests a market that is bearish but wary of a buy the rumor, sell the fact reaction.

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