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ECB rate cut is apparently a 97% certainty today- EUR/USD higher this morning

According to market pricing the odds of a 0.25% ECB rate cut today is around 97%. That is probably as close to a certainty as it could be and as such the markets are not in the least going to be surprised by such an outcome. Of course, at the same time, that does leave a lot of room for a surprise. Some are even speculating; the ECB may move to cut by 0.50% today. That is not a view that is shared here though. Leaving that aside, it is not so much what happens today, it is what the ECB project going forward that might matter most and for that we might have to wait for the post decision press conference for more detail on that. That comes at 12.45pm GMT, following the rate announcement itself, at 12.15pm GMT. The EUR/USD looks rather nonplussed by all this right now and is actually a little higher this morning, relative to where it closed in the US last night, at 1.0869. The EUR/USD is currently trading at 1.0886 and there will be more to add on that later this morning 

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