Forex
Euro Holds Firm Ahead of ECB Decision
The Euro (EUR) trades in a tight range at around 1.1640 against the US Dollar (USD) on Thursday, as investors await the European Central Bank's (ECB) monetary policy decision.
The ECB is widely anticipated to hike its Deposit Facility Rate by 25 basis points (bps) to 2.5% in the policy meeting, with analysts at Danske Bank expecting a modest tightening step.
They note that President Christine Lagarde will 'retain full optionality over the future rate path and provide no firm guidance', which should limit market reaction.
The US Dollar (USD) also has some key data to watch, with the United States (US) Producer Price Index (PPI) for August set to be published at 12:30 GMT.