How Energy Crisis Affects German PMI August 23, 2022, 10:30 GMT+3 Germany will publish Flash Manufacturing PMI data on Tuesday, August 23, at 10:30 MT time (GMT+3)…
ECB: packing presents for the euro traders
The European Central Bank will publish the last statement of the year on December 10, at 14:45 MT time. After that, at 15:30 MT time, the ECB President Christine Lagarde will hold a press conference.
Instruments to trade: EUR/USD, EUR/GBP, EUR/JPY
This year has been tough for the Eurozone. Massive lockdowns and coronavirus pandemic have damaged the economy roughly. Most policymakers and institutions agree that the ECB should boost its support. For example, the International Monetary Fund suggests that the European regulator needs to expand its asset purchases and consider the relaxation of Targeted Longer-Term Refinancing Operations (TLTROs) and even a rate cut. Though the news on vaccines' development is quite optimistic, these measures are necessary for the economy's stabilization. Given these views, it's particularly interesting to hear the comments by the ECB president Christine Lagarde on possible changes to monetary policy.
- If the ECB is optimistic, the euro will be boosted.
- In case of an alternative scenario, the euro will go down.
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Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.