The European Central Bank meet on Thursday, September 12. A rate cut is widely expected.

Via eFX comes from Nomura on what they are watching for.

Nomura anticipates a 25bp cut by the ECB, which is already priced into the market. The key focus will be on the ECB's statement, press conference, and updated forecasts to assess the potential for a more dovish stance and faster rate cuts.

Nomura forecasts a 25bp cut by the ECB, with the market focusing on potential dovish signals from the statement, press conference, and forecasts. A significant downward shift in EUR is not expected unless more explicit dovish commentary is provided. Trading strategies may favor shorting EUR/JPY given the anticipated broad EUR underperformance and potential global recession fears.