Saxo Group Videos

Hardy: Critical week for EUR as ECB meets

After Jackson Hole FX traders are turning their attention to incoming US data and a European Central Bank meeting on Thursday, which could prove critical for the euro, says Saxo Bank’s John Hardy.

Also key this week, will be incoming US data and whether it is good enough for the US Federal Reserve to hike rates. If Friday’s nonfarm payrolls are strong and there is no further selloff in the markets, Hardy believes the Fed could hike in September, which the market has not priced in.

Apart from EURUSD, Hardy also looks at what is happening with other currency pairs like AUDNZD and EURSEK.

02:26 minutes
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