The crypto market keeps recovering. Bitcoin has broken above $57,000. The way up to $60,000 is open now!
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 upcoming CPI and the earnings season are the main events in the focus of traders next week. Check out more!
The market sentiment is risk-off. Stocks are falling, while the safe-haven US dollar is edging higher. Meanwhile, oil advanced after the OPEC meeting.
Last week was full of surprises! Stock indices have shown significant growth…
The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong.
Canada will publish the Retail Sales and Core Retail Sales on October 22, at 15:30 MT time (GMT+3).