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05.09.2019 20:23

ECB Draghi’s policies to continue and fiscal expansion to be pushed – Westpac

Tim Riddell, an analyst at Westpac, notes that the ECB president-elect Lagarde’s presentation to the EU Parliament indicated that she will continue Draghi’s policies and will also push for fiscal expansion within the region.

  • “Draghi’s indication of a concerted stimulus package at the ECB’s Sep appeared to be affirmed by ECB Governing Council members Lane and Rehn, but more hawkish members Knot, Weidmann and Lautenschlaeger have recently highlighted potentially deep divisions over further ECB stimulus.
  • Data into next week’s ECB meeting and the ability of Draghi to gain support for a swansong stimulus will be critical for both the handover to Lagarde and EUR.
  • Recent declines in global sentiment, expectations of ECB easing and veiled threats over US-EU trade have seen EUR/USD breach 1.10 support. If ECB credibility is affirmed, a new 1.08-1.12 range could develop.”


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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