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Hardy: ECB about to make 'concrete' statement - EURUSD reacting

The ECB will make a "concrete" announcement this week and introduce QE in January 2015, that's according to Saxo Bank's Head of FX Strategy John Hardy. John tracks the unusually early moves in EURUSD ahead of this week's ECB meeting. The central bank will move its meetings to a new schedule and John thinks this may be a factor causing weakness ahead of the event itself. Weak Eurozone PMIs this week have also set the negative tone.

Also, John looks at near-term trading in EURJPY with the expectation of the ECB taking on the 'baton' of QE from the Bank of Japan creating market opportunities.    

03:01 minutes
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