ECB meeting to largely be a summertime placeholder – TDS

Analysts at TD Securities are looking for this ECB meeting to largely be a summertime placeholder.

Key Quotes

“The only real burning question is around the translation issues with the rates guidance; we hope for more clarity from Draghi, but expect that he may waffle around giving more specific month-by-month guidance.”

“FX: Friday's US GDP reading may be a bigger EUR driver this week if the ECB remains mostly copy/paste from June. We expect EURUSD to remain choppy within recent ranges unless a clear directional surprise emerges.”