It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
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.
Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
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Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.