With ECB’s rate decision the key event today, we look at the possible action ahead by Draghi, the key trending events in the financial markets, broker upgrades and downgrades, the FX sentiment, and trade of the day, in the today’s market roundup video of Tip TV, featuring Zak Mir, Technical Analyst at Zak’s Traders Cafe, and Bill Hubard, Independent Market Commenter.
Key Quotes
“ECB’s Draghi likely to say that we are evaluating the data..need more data before making any overtly dovish comments.”
“With respect to BOE action ahead, markets are still pricing in a 63% probability of a rate cut in August. So Draghi will likely wait and see what BOE does.”
“If we get a really positive US NFP for July and Aug then all of a sudden Fed would be under pressure to push up rates.”
“Markets seems to be unconcerned about ‘corporate profits’ recession. Earnings are being ignored.”