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ECB tone EUR negative, but no sustained impact

The ECB's dovish tone would be expected to be negative for the Euro, but should not have a sustained impact. The current level of EUR/USD is consistent with data and fundamentals.  

Market positions in G10 FX are relatively light, suggesting data and fundamentals will become more important in driving markets, particularly after a resolution in Greece and as the Fed startstightening.

"Beyond the very short term, the EUR/USD is expected to remain bearish and also to reach parity by the end of the year, but this assumes the Fed hikes in September as US data improve and that the market will start expecting the ECB to continue QE after September 2016. Global spillovers from China could also be negative for the Euro", says Bank of America.

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February 22 14:00 UTC Released

MXMth Infl YY

Actual

3.89 %

Forecast

4.07 %

Previous

4.52 %

February 22 14:00 UTC Released

MXMth Infl MM

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-0.1 %

Forecast

0.12 %

Previous

0.11 %

January 31 00:00 UTC 558199558199m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 558199558199m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 570019570019m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 558199558199m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 570019570019m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 558199558199m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 558199558199m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 558199558199m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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