ECB sources via Bloomberg reports:

  • Given the downside risk in economic growth in the EU, ECB officials are keeping the door open for a cut at the October meeting

Reuters is now reporting:

  • Policymakers see an interest rate cut in October as unlikely, unless there's a major downturn in growth

  • The ECB cut borrowing costs on Thursday, but a further cut in October is not expected

  • Sources say:

    • Not enough new information will be available by October 17 to warrant a rate cut

    • Policymakers prefer to wait for new projections in December before making another move

    • A major negative surprise on growth would be needed to prompt another rate cut

  • The ECB's Thursday meeting was unusually short and unanimous, with a decision to cut rates already made.

The Bloomberg report was a bit more optimistic for an October cut (at least the doo was open). The Reuters sources report, is saying a cut is more "unlikely".

The EURUSD is moved above the 100 hour MA at 1.10387.