Goldman Sachs says head of the European Central Bank Mario Draghi will unleash a dovish surprise

The analysis is from Robin Brooks, Goldman's chief currency strategist, via Bloomberg

  • ECB President Mario Draghi will deliver a "dovish surprise" ... "President Draghi is going to deliver in a forceful way"
  • That will drive the euro down by as much as "three big figures" to about $1.03
  • "Most of the feedback we are getting is that people are cautious, on a sense that market expectations are elevated; we disagree"
  • It is "important -- both for ECB credibility and, more important, for reversing the lowflation dynamic -- to make tomorrow's easing a material event, i.e. to surprise the market"