The week has started with a cautious note...
Another challenge for the EUR
The Business Climate Indicator will be announced at 12:00 MT on January 8.
The Business Climate Indicator is based on five parameters of business activity and accounting, reported by thousands of companies across the Eurozone. Hence, it gives a comprehensive view of the European manufacturing sector. This year, the BCI has been consistently decreasing month after month with a few exceptions to the overall declining trend. The releases of the last three months were negative, indicating very moderate expectations of the business sector. The November figure of -0.23 fell below the expected -0.14, putting the euro under additional pressure. If the same happens on January 8, EUR will likely drop.
- If the BCI falls below the forecasts, EUR will fall.
- If the BCI outperforms the forecasts, EUR will be supported.
A new week brings new trading opportunities
On January 23, the ECB announced the interest rate at 0%, unchanged. The ECB President followed with a press conference to give more details. What was the message?