ECB flowsHere we are quickly tracking the flows for the news:
We are tracking a few key things here today:
(1) Removal of summer 2019 from forward guidance -> replaced with end of year
(2) Growth and inflation forecasts revised lower
(3) Confirmation on TLTRO’s to be announced with full details coming in April
For those who are short EURUSD, there are no changes to the path towards 1.09. The risk is for a knee-jerk reaction to the upside on the headline of TLTRO’s not coming till April. For the news flow there is heavy resistance at 1.135/1.136 and provide selling opportunities.
Good luck guys
