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Lockdowns still hurt but not so painful for the Euro zone

President of the European Central Bank Christine Lagarde addresses an event to launch the private finance agenda for the 2020 United Nations Climate Change Conference (COP26) at Guildhall in London. European Central Bank governors are expected to refrain from doling out fresh stimulus measures. PHOTO | AFP

As of writing, it is Thursday 16th, five hours to the European Central Bank's policy meeting, which markets believe should have a fairly limited impact on the euro since no new measures are expected and devoid of any razzmatazz during the presser. The euro is dancing above the 1.1400 level ahead of the policy meeting.

The meeting should be more about testing (ECB) President Christine Lagarde's communication rapport with the markets rather than announcing any new measures.

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