ECB To Maintain Downward Pressure On The Euro

The ECB monetary policy meeting on Thursday 8 th is likely be the main event for the EUR/USD exchange rate during the next few days. Indeed economic data to be released during the week in the Euro zone (German and French industrial production for August) are not expected to have an impact on ECB monetary policy and economic data to be released in the USA (ISM non-manufacturing index, initial jobless claims and Beige Book the most important) are not expected to give a final word on FED’s decision on a possible rate hike during the September 20/21 meeting.

The ECB has maintained a wait-and-see stance…

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