Top 4 trading opportunities of December 12
The GBP traders await the outcome of the election, while the euro may follow the words of the new ECB president Christine Lagarde. Read more!
ECB meeting is key for the EUR
The euro is under pressure. Its fall continues since the middle of April. EUR/USD reached the lowest levels since November 2017. A strong plunge of the single currency is caused by the weak economic data. The European economy suffers because of political problems in Italy, the Brexit deal, and trade wars.
The European Central Bank will release the interest rate at 14:45 MT time on June 14. At 15:30 MT time, the central bank will hold a press conference.
The ECB has been keeping the interest rate on hold since March 2016. Investors don’t expect the interest rate to be changed as the central bank hasn’t ended the quantitative easing yet. At the previous meeting, the ECB stated that “members broadly agreed that an ample degree of monetary policy accommodation remained necessary to accompany the economic expansion and secure the gradual convergence of inflation to levels below, but close to, 2%. The remaining uncertainties and the still muted underlying inflation pressures continued to justify caution and underlined the need to maintain patience, persistence, and prudence with regard to monetary policy”. It puts additional pressure on the euro.
If the central bank stays cautious this time as well, the euro won’t have chances to recover.
• Dovish ECB – weak euro;
• Hawkish ECB – strong euro.
Similar
FOMC meeting: the aftermath
The Federal Reserve had the meeting on Wednesday - we take the first look at the results and try to understand what's coming next.
Currency market on December 10
EUR is falling against the GBP, rising against the USD but not for long
Latest news
Top 4 trading opportunities of December 12
The GBP traders await the outcome of the election, while the euro may follow the words of the new ECB president Christine Lagarde. Read more!
FOMC meeting: the aftermath
The Federal Reserve had the meeting on Wednesday - we take the first look at the results and try to understand what's coming next.
Opinion polls cast a shadow on the GBP
YouGov, the key organization tracking the UK public opinion has released its final report ahead of the vote that will take place on Thursday, December 12.
Deposit with your local payment systems
