It may be a holiday week in the U.S., but with 2 major central banks expected to ease monetary policy on Thursday and the U.S. non-farm payrolls report scheduled for Friday, we should see a pickup in volatility over the next 48 hours. Having left interest rates unchanged at 1% since the beginning of the year, the European Central Bank is now expected to cut interest rates by 25bp to 0.75%. Although the ECB has not dropped hints about their inclination to ease, 82% of the economists surveyed by Bloomberg expect the central bank to cut interest rates. Considering that the news agency surveyed 62 analysts, this is not a small amount. The main reason why the ECB is expected to ease is growth. While the financial markets have stabilized and Spanish and Italian bond yields declined, economic data has taken a turn for the worse. The commitment to austerity