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      Forex Flash: Upcoming ECB meeting holds key importance – BBH

      Brown Brothers Harriman analysts believe the upcoming ECB meeting will hold a significant importance.

      They note that there has been passive tightening of monetary conditions in the Euro area and there are a few calls for the ECB to cut rates, but “we do not think it will.” They see the first line of defence will be morale suasion. They write, “The reduction in the ECB's balance sheet, which is now the smallest in about a year, is a symptom not of undesirable developments, but of the improved access to private sector funding. Draghi is likely to calm market anxiety.”

      Forex Flash: Market enters into a tactical consolidation – Societe Generale

      Sebastien Galy, Senior FX Strategist at Societe Generale notes that with the end of month re-balancing flows gone, pressure on the Spanish PM, elections ahead in Italy and EUR/USD sky high, we are seeing a bout of profit taking which is hitting peripheral Europe and EUR/USD.
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      Forex Flash: US market to absorb bearish European wave – Societe Generale

      Sebastien Galy, Senior FX Strategist at Societe Generale believes that it is likely that the US market is likely to absorb the bearish wave from Europe, and boosted by some continued positive data, continue its positive trend. MXN and CAD are unlikely to have a good morning, but he feels that the afternoon will be a different matter.
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