Lagarde's ECB presidency marks period of transition

AS we move towards the end of 2019, we are transiting to a new period as Christine Lagarde takes over as the new president of the European Central Bank (ECB). The question on most people's minds is: "Will the new president make her presence felt by enforcing her authority through immediate changes in the policies of the ECB?"

It is our view that for the moment, there would not be any drastic changes that detract from the directions set by her predecessor, Mario Draghi. This might change in the future as the global economic landscape changes.

There are several things which would be affecting the EURUSD in the meantime. Aside from the policies set forth by the ECB such as the re-commencement of quantitative easing with plans to buy 20 billion euros (S$30 billion) of debt a month from Nov 1 with no plans of an end date that was announced by Mr Draghi during the ECB meeting in September.