ANZ suggest that "the ECB meeting.......>

EURO-DOLLAR: ANZ suggest that "the ECB meeting later today takes on added market

significance in the wake of extended PMI weakness, Italian budget concerns and a

lack of agreement on Brexit. If hard economic data for late Q3/early Q4 follow

the surveyed indicators down, slowing growth could well have the effect of

reducing the ECB's confidence that inflation will return to target in line with

its current forecast profile. We expect the ECB will maintain its current

guidance that QE will end later this year. However, that guidance is data

dependent and core inflation has shown no signs of accelerating. The expected

timing of rate rises could be extended. The euro remains under pressure from the

confluence of negative events and anxiety over the global trade backdrop. Any

dovish tilt from the ECB would send it lower. A break of this year's EUR/USD low

around 1.13 would open up the downside."