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ECB hands are tied - BBH

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes the conditions surrounding the ECB.

Key Quotes

"German Q2 GDP will be reported on Thursday. The risk is for a small contraction after a 0.8% expansion in Q1."

"This can only fan expectations a greater ECB policy response, though the central bank's hands are tied, it appears, ahead of the implementation of the TLTRO facility. The ABS purchase scheme seems more like a 2015 story than 2014."

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EUR/USD: Bears struggle to make much progress post ZEW...

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