European interest expectations today 

Markets are waiting at 3:15 pm Egypt time for the European interest rate decision, and the European Central Bank is likely to cut interest rates by 25 basis points with a small chance of reducing them by 50 basis points due to the weakness of the eurozone economy, as the euro has limited scope to fall as this cut is priced now, and the markets are also taking into account 90 basis points of rate cuts this year.

This means that the possibility of surprising the markets with indications of further rate cuts is limited.

Unless ECB President Christine Lagarde strengthens bets on further interest rate cuts, then the euro could be in danger and fall against most currencies.

But the euro seems to be driven more by concerns about US President Trump's tariff threats and not the ECB yet, and the euro remains vulnerable to volatility after the ECB meeting.