ECB: Will Draghi’s dovish words alone be enough?

The main question today is whether the ECB can afford to wait six more weeks. It's a very close call but we reckon they'll change their forward guidance, but the risk to this call is that Mario Draghi tries to surprise financial markets. The dovish bias suggests EUR/USD breaking the 1.1100 level

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ECB preview: One final talk before walking the walk

It's a very close call but we expect the European Central Bank to change its forward guidance next week and effectively pre-announce a package of new…

EUR & ECB: Facilitating the downside to the euro

The ECB is just about likely to stay on hold this week. We expect the dovish press conference, with guidance on a September rate cut and talk about QE, to…

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Declining eurozone PMI: More ammunition for ECB doves

The Eurozone PMI declined from 52.2 to 51.5 in July, thanks to deepening manufacturing contraction. If the European Central Bank takes this release…