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The policy of the European Central Bank is a major driver for the euro. Ahead of its every meeting, traders await decisions and comments from the ECB and make their predictions. As a result, the EUR is volatile ahead of the event and afterward.
The regulator will publish its monetary policy decision at 14:45 MT time. The ECB President Mario Draghi will hold a press conference at 15:30 MT time.
In June, the ECB announced that it would end monetary stimulus program by the end of the year (good news for the EUR) but signaled that any interest rate hike was still distant (bad news for the EUR). Traders will be eager to know whether the central bank’s approached has changed or not.
• If the ECB is optimistic about the economy and hints at higher interest rates, the EUR will rise.
• If the ECB is pessimistic about the economy and hints at low interest rates, the EUR will go down.
Check the economic calendar
Be ready to a spike in volatility during Mario Draghi’s press conference. If you decide to trade on this event, remember to apply the rules of risk management.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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