Yushin Bank analysts pointed out in a report that if the ECB keeps interest rates unchanged on Thursday, the euro may not fluctuate much, especially when ECB President Lagarde remains vague about future policies. They said Lagarde may continue to emphasize that policy depends on data without clearly indicating the next direction of interest rates. The market may conclude that the ECB's tendency to cut interest rates has disappeared, but the rate hike is still far away. “We continue to predict that interest rates will remain stable over a longer period of time,” they said. Yu Xin believes that since they expect the Fed to cut interest rates less than market expectations, it may be difficult for EUR/USD to continue breaking above 1.20.

Yushin Bank analysts pointed out in a report that if the ECB keeps interest rates unchanged on Thursday, the euro may not fluctuate much, especially when ECB President Lagarde remains vague about future policies. They said Lagarde may continue to emphasize that policy depends on data without clearly indicating the next direction of interest rates. The market may conclude that the ECB's tendency to cut interest rates has disappeared, but the rate hike is still far away. “We continue to predict that interest rates will remain stable over a longer period of time,” they said. Yu Xin believes that since they expect the Fed to cut interest rates less than market expectations, it may be difficult for EUR/USD to continue breaking above 1.20.