ECB: No fireworks expected - TDS

Analysts at TD Securities are expecting a relatively low-key decision from the ECB this week, though Draghi will likely face questions on the tone of recent economic data, details on the TLTROs, and possible questions over tiered deposit rates.

Key Quotes

“We expect details on TLTROs in June with a September start.”

“FX: We do not expect the ECB to give the EUR a large directional push. We see some risks of a downside break lower, however, if the tone is particularly dovish as US/EU trade tensions are starting to surface.”