The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
EUR supported by the European Commission
The economic situation in the Eurozone is as bad as the ECB’s worst forecasts as reported by the bank’s president Christine Lagarde today. Nevertheless, the EUR is willing to overlook this news and pay more attention to the stimulus extension plans as the European Commission informs. The currency took that as a strong sign that hopes for a better recovery may be fulfilled and rallied against the USD and the GBP. That, however, may be just a temporary rise which will change no larger trend unless there is more fundamentally positive input. Watch for the resistance levels to be crossed or reverse the upswing and adjust your positions accordingly.
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.