EUR/USD focused on ECB minutes – Danske Bank

Piet Christiansen, Senior Analyst at Danske Bank, gave his opinion on the recent price action around the pair.

Key Quotes

“EUR/USD continued the rally yesterday as the Russia-Syrian issue moved to the fore but the uptick was halted by the slightly hawkish FO MC minutes last night”.

“While souring risk appetite has recently been a USD positive when deriving from cyclical weakness as was the case last week, it still seems to be a USD negative when the US president is involved in driving it”.

“Today watch out for ECB minutes but note that euro-zone data have deteriorated markedly since the early March meeting. This should make the ECB less eager to move fast and thus less inclined to spur more capital inflows”.