EUR & ECB Cribsheet
The ECB is moving closer towards more action, but it is too early to do so this month. While we look for a dovish bias and hints at more asset purchases (to come in December) this should not catch markets off guard. The impact on EUR/USD, which has been relatively resilient during the latest de-rating of the eurozone growth outlook, should not be overly negative.
The ECB have produced a resume of their current activities. Although we’re not prrt of the EU anymore we have agreed to comply with the legislation – here it is, what’s planned.