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11.09.2019 20:55

ECB: 20bps rate cut coming? – TD Securities

Analysts at TD Securities say that their base case sees a 20bps rate cut with tiering, €40bn/m of QE, and no rate hikes from ECB tomorrow until at least mid-2021.

  • “We're more comfortable with the rates view than QE, as QE will likely be a contentious decision.
  • FX: Our dovish ECB call has us looking for downside risks to EURUSD. We think spot will be more sensitive to a large QE announcement than rate cuts as much of the expected Fed/ECB policy path differential already looks priced.”


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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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