March 16, 2023 12:10 GMT
Euro Vols Remain Elevated ahead Of ECB Meeting
- EUR vols remain well elevated ahead of the ECB decision later today, with markets split down the middle on whether the ECB stick to guidance of a 50bps hike, or a slower 25bps step today. An overnight EURUSD straddle breaks even on a swing of ~90pips - making for the largest premium since the mid-December Fed and ECB meetings.
- The greenback is moderately softer against most others, with the shoring of concerns surrounding Credit Suisse helping prop up sentiment across the board. Outside of the ECB decision, weekly US jobless claims, import/export price indices and the housing starts/building permits releases for February.