from Market Watch
Clearly, the European Central Bank is in wait-and-see mode. The corporate bond buying program and the new round of targeted long-term refinancing operations don’t begin until this month.
The ECB staff, meanwhile, is expected to upgrade its economic and inflation projections after a mixed performance following the last policy meeting in April, analysts said. The chart from BK Asset Management offers a scorecard on economic data.
Here’s Kathy Lien, the firm’s managing director of FX strategy: