There is much on the agenda for the EUR this week, including the European Central Bank meeting (policy announcement due at 1145GMT):
- ECB policy review and European summit
- The week ahead for EUR - influences likely to be equity earnings, EU meeting, ECB meeting
- Goldman Sachs EUR forecasts, "More confidence in sustained Euro appreciation"
- EUR/USD forecast (to 1.15) with the ECB expected to be optimistic this week
- ECB meeting coming up this week - quickie preview (spoiler, no change)
As was noted during the US time zone, EUR/USD pierced 1.14. A factor that appears to have flown under the radar is this sign of (continued) aggressive policy support from the ECB, that is:
- ECB corporate bond-buying was up 3.3bn EUR last week, which is around 400m higher than the previous record high over the past 4 years operation of the Bank's corporate bond purchasing program
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ps, ICYMI, the EU Recovery Fund will be the discussion point of note for markets in the ECB meeting Thursday
- financing totalling up to EUR750 bn, split between grants of EUR500 billion and loans of EUR250 billion
- Netherlands, Austria Denmark and Sweden want to reduce the amount of funds distributed as grants
