The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
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.
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
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