Market Extra: 3 things to watch for when ECB meets Thursday

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Mario Draghi

Over to you, Mario Draghi.

After hints of a potential rate cut by Federal Reserve Chairman Jerome Powell and indications that easier policy may be in the offing by Australia’s top monetary policy maker earlier this week, the European Central Bank president is also widely expected to maintain a dovish stance in his postmeeting news conference on Thursday.

That could serve to keep pressure on the euro EURUSD, +0.0535% analysts said. The shared currency was off 0.2% on Wednesday to trade near $1.1228 and remains off more than 2% so far in 2019 versus the dollar.

“Markets seem to already expect a dovish ECB meeting based on our recent discussions with investors, although more in terms of the tone than policy action,” wrote currency analysts at Bank of America Merrill Lynch in a Wednesday note.

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