EUR: ECB meeting largely a non-event - ING

Viraj Patel, Foreign Exchange Strategist at ING, suggests that there is a small matter of the Dec ECB meeting to deal with (Thu), which should be a non-event for the EUR – especially as the QE taper plans have now been unveiled.

Key Quotes

“Some attention may be paid to the ECB's longer-run forecasts (which will include the 2020 outlook). But we note that the next big thing will be the moment when markets start to position for higher ECB deposit rates; this is not priced in yet, but for us is a summer 2018 story that takes EUR/USD to 1.25.”