American mortgage applications tacked on for the first time for five weeks because most home borrowing costs kept to their lowest value for 10 months…
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.
The releases of employment change and the unemployment rate for Australia are expected on February 21, at 2:30 MT time.
The release of the Federal open market committee (FOMC) meeting minutes is scheduled on February 20, at 21.00 MT time.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…