FX Pulse

类型：投资策略机构：大华银行有限公司研究员：大华银行研究所日期：2015-11-23

In Asia, regional currencies were broadly lower. THB unusually led laggards, lower by 0.69% to 35.675 despite BOT reaffirming 2.7% GDP growth this year. MYR weakened past 4.3000/USD for the first time since 7-Oct but finished at 4.2750. SGD weakened for the 4th straight day to 1.3946.

    Portfolio wise, our existing positions in cash and options remained steady.

    TODAY’S VIEWAll eyes are on the ECB meeting today. There has been growing speculation that the governing council will divulge fresh discussions on further stimulus, be it an expansion of the current APP or a move lower on rates.

    We expect Draghi to reiterate the dovish message of an ECB “ready, willing and capable” of action but stop short of announcing additional stimulus today, especially following earlier “key calm” comments from ECB’s Nowotny.

    Finally on EUR/USD, a break out the narrow consolidation range will not be surprising today but the direction of the break would be more difficult to determine. We prefer to stay neutral for now.