Riksbank cuts rates by 0.25% paving the way for the ECB to follow tomorrow- EUR/USD unfazed

According to many researchers, the Swedish Riksbank often likes to get in front of the ECB, with either a hike, or an interest rate cut. Well, just now the Swedish Central Bank did as expected and lowered their OCR (Official Cash Rate) by 0.25%. So, does that mean we get a similar cut from the ECB tomorrow? Well, as that research would suggest, it would seem likely. However, this is exactly what the markets expect from both Central Banks this week, so not real surprises to convey here. The reaction in the EUR/USD to the news a short while ago certainly underpins that too. Earlier the Euro did just edge below the 1.0414 low seen yesterday. The low seen earlier was set at 1.0413. So, on the assumption an ECB rate cut tomorrow is almost a given, the focus is thrown back onto the Fed this evening. If one were to assume the Fed will do nothing this evening, it is surely what Jerome Powell has to say in the post decision press conference which might matter more. The EUR/USD is right now at 1.0428