The main focus today will be the ECB meeting - see our preview here. We expect the ECB to maintain its patient stance at the meeting this week and not send any new signals about more easing.
In the US, we are expecting two speeches from Federal Reserve officials - Powell and Kaplan. The market will be looking for hawkish comments even though one is 'neutral' and the other is considered to be 'dovish'.
The Danish Central Bank is due to release data for the FX reserves and given the level for EUR/DKK as well as the deviation in the net position between the commercial banks and the Danish Central Bank, we estimate there has been intervention in May.
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