Speculation about ECB´s QE program weighs on the EUR
The PMI is due for publication in the euro zone today. The weak economy continues to worry the ECB which is no doubt the reason why it is vehemently rejecting any specula-tion about an early end of the QE programme. Howe…
The PMI is due for publication in the euro zone today. The weak economy continues to worry the ECB which is no doubt the reason why it is vehemently rejecting any specula-tion about an early end of the QE programme. However, in the near future it is unlikely to have to look into such speculation, as sentiment indicators are likely to end their uptrend and start stabilising for the time being.
And following the comments by ECB Executive Board member Benoît Coeuré on Tuesday speculation is now moving more towards an extension of the QE programme (see yesterday's Daily Currency Briefing). Even if it was certainly not Coeuré's intention to weaken EUR with his comments, no doubt the ECB is not likely to be overly worried by the weaker currency.
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