
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
The European Central Bank will meet today to discuss the current monetary policy and the fate of the quantitative easing program. As usual, the event will start with the release of the monetary policy statement and the announcement of the interest rate at 14:45 MT time. After that, there is a press conference at 15:30 MT time.
While the interest rate will most likely remain stable at 0%, the main focus of traders will be on the tone of the ECB President Christine Lagarde and the release of the strategic review. The strategic review will provide us the details on factors and which may have an impact on the future ECB monetary policy decisions. During December’s meeting, the data signaled about stabilization in the GDP growth of the Eurozone. In fact, analysts have already told that the current ECB team is far less dovish than the one headed by Mario Draghi. However, the stimulus program has been left untouched yet. According to the words of Christine Lagarde, the global uncertainties keep being the major issue for Europe. Thus, her words may hurt the euro, if she sees the risks increasing.
EUR/USD has been consolidating on the H4 chart between 1.1094 and 1.1075 levels. If the ECB is hawkish, we expect the breakout of the 1.1094 level and rise towards 1.107. The next key resistance will be placed at 1.1075. On the other hand, the negative comments by the ECB will pull the pair below the 1.1075 level towards the next support at 1.1066. The next key level will be placed at 1.1054.
So, to sum up today you need to:
1) Wait for the updates on the monetary policy;
2) Review the hints on the further easing in the strategic review;
3) Follow the comments by the ECB President Christine Lagarde during the Press Conference;
4) And, of course, press
The first week of November promises to be eventful, as we have the Fed meeting, the BOE update, and the NFP release. Read more details here.
Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.