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ECB To Dominate Headlines

ECB To Dominate Headlines

Any surprises from today’s ECB’s policy update could determine the price action for the GBP/EUR pair over coming days and weeks. The Euro could see increased demand if the European Central Bank (ECB) announces it intends to begin the process of ending its extraordinary Covid crisis support programme, known as PEPP.

In level terms, GBP/EUR opens this morning around the 1.1650 area, a position it has occupied for the last 2-3 weeks. The EUR/USD is changing hands in the bottom half of $1.18-1.19 whilst Cable (GBP/USD) is operating above the midpoint of the $1.37- 1.38 range. 

Elsewhere, the latest initial US jobless claims data is due with the consensus for the number to continue to trend lower, falling to 335k from 340k.

 

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