(23 October 2019 ) DAILY MARKET BRIEF 1:Soft ECB meeting amid Draghi’s departure

Tomorrow’s ECB meeting will probably remain largely ceremonial, as the Governor of the European Central Bank, Mario Draghi, is expected to deliver his last monetary policy meeting after an eight-year term while German Isabel Schnabel is expected to get nominated within ECB board in replacement to Sabine Lautenschläger. Questions about the duration of the next Brexit extension planned by the end of the week, the European Commission’s concerns about France’s tax reduction plan and Italy’s draft 2020 budget as well as upcoming US – EU talks should keep investors’ attention. Consequently, the single currency should remain under pressure for now.