Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
|The economy of the euro area is in a very good shape. However, the euro cannot strengthen. Mario Draghi, the President of the European Central Bank, sounded cautious at the regulator’s last meeting. Although the European interest rate is expected to remain at the same level for a long time, Mr. Draghi may still give clues about the future rate hikes. Even a hawkish-sounding speech will support the single currency. The ECB will release its statement at 14:45 MT time on April 26. The traditional press conference will start at 15:30 MT time. As usual, great swings await EUR/USD and EUR/GBP.|
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!