By Andrew M Spencer — Oct 16 - 07:30 PM
Trades off 0.03% after closing down 0.3% with the USD +0.25%, EUR/GBP +0.4%
Markets price in a 25pt ECB rate cut at today's meeting as inflation recedes
The tone of the Monetary Policy Statement will initially drive markets
ECB President Lagarde's comments at the press conference key to the outlook
Charts - daily momentum studies slip, 21-day Bollinger bands expand
5, 10 & 21-day moving averages track lower, a negative trending setup
Wednesday's 1.0901 high, then this week's 1.0936 top are initial resistance
1.0783, 0.786% of the Jun/Sep rise and 1.0777 August low first supports
There are no significant close strikes for October 17th
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary