Forex Flash: All eyes on ECB as rate alterations loom – Investec

FXstreet.com (Barcelona) - According to the Investec Research Team, “The next big risk event is the ever more likely interest rate cut next week from the European Central Bank – Angela Merkel came out fighting yesterday by stating that higher interest rates are better for Germany. Whether this was a pre-emptive measure to suggest that rates will ultimately rise again or a warning shot to Mario Draghi remains to be seen.”

The main events today will be this afternoon over in the States when we see US GDP which is expected to rise and consumer confidence which is also forecast to be on the up. With EUR/USD jockeying either side of the key 1.3000 level it will be interesting to gauge the market’s take on the figure as and when they are released.