ECB expected to hike

The ECB comes under the spotlight, with investors expecting the central bank to similarly raise rates by 25 bps at the conclusion of its monetary policy meeting on Thursday, with the focus on its forward guidance and expectations for the September.

Ahead of the decision, the euro gained 0.4% to $1.1128.

“The market has been positioned for the ECB to hike in September,” Rabobank’s Foley said.

“If the probability of a September move is even slightly diminished relative to what the market had been expecting, the euro could be a little less robust.”