EUR/USD Traders Await ECB's Expected 25 bp Hike to 2.50% Tomorrow
The European session has a light calendar, with French industrial production as the only scheduled release. The source reports no price move, pip figure or technical levels. The French data is not expected to alter the outlook for the European Central Bank, so the market reaction is likely to be muted. The main focus is the ECB decision the following day. The central bank is widely expected to raise interest rates by 25 basis points, bringing the policy rate to 2.50%. According to 'ECB sources', policymakers will also signal less appetite for further tightening, raising the bar for additional rate hikes. For euro traders, a hike paired with a less hawkish forward signal is the key element to monitor, since guidance on future tightening may matter as much as the rate move itself for EUR pairs such as EUR/USD.
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