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)…
EUR/USD fell after the ECB meeting
The European Central Bank announced on Thursday that it would extend its bond purchases at a reduced rate.
The ECB would cut monthly asset purchases euro from 60 billion euros to 30 billion starting from January while also extending the scheme by 9 months to September. The central bank is ready to increase purchases if the outlook becomes less favorable.
In his opening statement, Mario Draghi underlined that domestic price pressures remain muted and ample degree of monetary policy stimulus is still necessary. At the same time, risks remain broadly balanced and economic expansion continues to be solid and broad-based.
Answering the journalists’ questions at the press conference, Draghi said that the ECB decision wasn’t unanimous. The 'large majority' of members preferred to keep bond buys open-ended. At the same time, central banker didn’t appear to rule out a rate hike in 2019.
The announcement was in line with the market’s expectations. EUR/USD from 1.1800 to 1.1740.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
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.
Every week we expect many interesting events that can shake the market.