US Initial jobless claims will be announced on Thursday at 15:30 MT time.
ECB monetary policy statement: potential pressure for the euro?
The European Central Bank will publish a monetary policy statement and release the main refinancing rate at 14:45 on September 10. Later, at 15:30 MT time, the ECB President Christine Lagarde will hold a press conference.
Instruments to trade: EUR/USD, EUR/JPY, EUR/CAD
While the interest rate remains at 0%, we recommend following the policymakers' decisions amid the coronavirus crisis. The ECB continues conducting its bond-buying program and considers the need for further actions. Given the current strong performance of the EUR and mixed releases of economic indicators, it would be interesting to see the middle-term economic outlook by the ECB and its plan for further steps regarding monetary policy.
- If the ECB highlights positive developments in the economy of the Eurozone, the EUR will strengthen;
- If the ECB comments about the weak economy and remaining risks, the EUR will weaken.
The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
The market sentiment remains risk-off amid rising virus cases around the world and fears over new restrictions and lockdowns.
China’s Manufacturing PMI will be out on Wednesday at 04:00 MT time!
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!