Strategy Video: ECB Strategy for EURUSD and Euro Crosses

Talking Points:

• The ECB rate decision (11:45 GMT) and Draghi conference (12:30 GMT) on Thursday are top event risk

• Expectations for more easing build alongside forecasts for volatility - the highest since the June meet

• EURUSD may not present the best opportunity amongst Euro crosses on a hawkish or dovish outcome

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In a crowded week for scheduled event risk, the ECB rate decision tops my list for potential market impact. Not because the central bank will introduce a new wave of easing. Rather, whether the policy authority increases accommodation or stays its hand; a large segment will be caught off gaurd and have to readjust. In other words, this event is likely to be market moving and/or develop trends regardless of its outcome. In today's Strategy Video we discuss what to look for from this event and which Euro-based pairs may be best suited to different scenarios.

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