Strong USD on Tuesday
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
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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