Euro Trade Mixed on the Forex Market

Euro is mixed against its major counterparts today as Forex traders look ahead to coming weeks and try to determine what might be next. Concerns about potential stimulus in September, as well as the recent focus on buying corporate bonds, have some wondering whether there is more weakness ahead for the 19-nation currency.

Recently, the ECB announced that it is buying corporate bonds, and there have been negative deposit rates in place. Today, the ECB is expected to keep rates steady, but that doesn’t mean that everything is going particularly well. Concerns related to the Brexit, as well as Italy’s banking problems, have some wondering if more stimulus is needed.
Indeed, some are curious to see if ECB President Mario Draghi will hint at more stimulus to come by early fall. These expectations, along with what has already been done to help the eurozone so far, are weighing on the 19-nation currency and causing a somewhat indifferent performance today as the euro trades mixed against its major counterparts.
At 11:03 GMT EUR/USD is barely holding on at 1.1014, which is the opening level. EUR/GBP is higher, though, gaining to 0.8352 from open at 0.8338. EUR/JPY is down to 117.65 from the open at 117.74.

If you have any questions, comments or opinions regarding the Euro,
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