BCE and EUR/USD: ING expects a "calm" ECB meeting and maintains its 1.0000 target for the end of June

In an analysis released today, ING wonders if the EUR's downward trend will be disrupted by this week's ECB meeting.

"Today's ECB meeting will likely be an opportunity to display a status quo in which the ECB should reiterate its strong message regarding the implementation of QE until September 2016.

To the extent that this will therefore be a relatively calm ECB conference, the EUR will probably not show too much volatility.

In the longer term, we maintain our EUR/USD target at 1.0000 for the end of June."