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Mar 08 - 09:55 AM

EUR: An Attractive Funding Currency; ECB Will Likely Restore A More Dovish Rhetoric This Week - Credit Agricole

By eFXdata  —  Mar 08 - 08:46 AM

Credit Agricole CIB Research discusses its expectations for this week's ECB policy meeting on Thursday.

"We believe that the ECB President will resort to more dovish rhetoric and even signal that the Governing Council could prioritise the Eurozone FCI among the drivers of its policy outlook," CACIB notes. 

"The EUR is an integral driver of the bloc’s FCI and any shift in the ECB’s rhetoric can be seen as a negative development, making it a more attractive funding currency in our view. We believe that this conclusion will hold even if President Lagarde fails to quell market taper fears and thus contain the EGB market selloff," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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