12:30 PM · 10 December 2020

✔EURUSD: Correction ahead of the ECB

The ECB meeting (decision: 12:45pm GMT, conference: 1:30pm GMT) is the most anticipated market event this week. The Bank is widely expected to increase its bond buying program and in theory monetary expansion is negative for the currency. Having said that, this is already expected and the reaction will depend on the pace of monthly purchases – large increase could be negative for the euro. EURUSD is in a small correction but the mid-term trend remains positive.

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