Scandis outperform as focus turns to ECB......>

FOREX: Scandis outperform as focus turns to ECB

-NOK and SEK are the best performers in G10 early Thursday following the Norges

Bank rate decision which, while keeping rates unchanged, cemented expectations

of a rate hike in Q1 next year. The central bank were particularly upbeat about

the domestic economy, highlighting that the upturn in the economy "appears to be

continuing" and that "spare capacity has gradually diminished". The SNB policy

decision was largely inline with expectations and little market fallout

followed.

-The JPY is the weakest in G10 despite mildly negative equity futures on both

sides of the pond. USD/JPY remains somewhat capped ahead of yesterday's highs of

Y113.52. GBP strength carried through from yesterday's session saw GBP/USD top

out at $1.2687.

-All eyes turn to Draghi and Co, with the ECB expected to confirm the end of

their asset purchase program and lower their inflation and growth forecasts.

Other than the ECB decision, markets eye US import/export price index data and

weekly jobless claims numbers.