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Strategy Video: Laying Out ECB Scenarios for Euro and DAX Traders

Strategy Video: Laying Out ECB Scenarios for Euro and DAX Traders

2015-12-03 02:48:00
John Kicklighter, Chief Strategist
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Talking Points:

• The ECB's final policy decision of 2015 is ahead and there is heavy speculation of more accommodation

• There are a range of avenues for further easing including: lower rates, more QE and a longer QE program

• Join Christopher Vecchio as he covers the ECB rate decision live in the Live Trading Room

See how retail traders are positioning in the majors in your charts using the FXCM SSI snapshot.

This week has already seen a considerable round of fundamental event risk and heavy market moves, but the upcoming ECB rate decision is of a different caliber. With the ability to tap a critical market vein (monetary policy), anticipation for change going in and an outlet in the world's second most liquid currency; Euro traders should be prepared for impact. In the past weeks, we have seen the market's expectation for an expansion of the ECB's existing stimulus program (€60 billion per month of select EZ sovereign debt until at least September 2016) build under official rhetoric and sideline speculation. According to unnamed officials, the group is considering increasing the monthly asset purchases, extending the time frame for the QE program, widen the scope of acceptable assets and further lower the baseline interest rates. Market anticipation is high which sets a high bar. With EURUSD sitting just off multi-year lows after months of expectation and given NFPs and a FOMC decision ahead, the next move for this pair and other Euro crosses is not straightforward. We look at the scenarios behind this policy event and its possible market impact in today's Strategy Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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