Malik Zubair
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ECB Game Plan – Run through of the Scenarios
Trading the European Central Bank’s monetary policy announcement tomorrow will be tricky. Not only is it one of October’s most highly anticipated events but according to the CFTC’s Commitment of Traders report, speculative positioning is heavily skewed to the downside. Between the amount of bonds they plan to buy per month to the duration of the program and their forward guidance, there are no shortage of ways for Mario Draghi to placate the doves and the hawks. We know that the central bank’s preference is to remove stimulus slowly in a way that emphasizes their accommodative monetary policy stance. They ... (full story)