What will happen to the euro after the ECB meeting?
The European Central Bank publishes its monetary policy statement that includes an announcement of the interest rate on March 11, at 14:45 MT time.
All attention to Euro
EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!
Instruments to trade: EUR/USD, EUR/JPY, EUR/CAD
There are two versions of the PMI report: Flash and Final. Flash is the earliest one and thus tends to have more impact. If this indicator comes above 50.0, it signals the industry expansion, below – contraction. Besides, on Friday French and German PMIs will be released. Since Germany has the largest economy in Europe, it will be closely watched by investors as well. New coronavirus cases are steadily rising in the Eurozone and in some parts the numbers have even reached fresh records. That’s why countries may impose new restrictions, which will dampen economic activity and slow down the recovery.
- If PMI is greater than the forecast, the EUR will surge.
- Otherwise – fall.
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Australian GDP rose by 3.1%, exceeding analysts’ forecasts of 2.5%. The Australian dollar climbed after the release, but then joined its peers in falling against the USD.
US service data is coming
The US Services PMI will be out at 17:00 MT time on March 3.
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