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!
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.
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?
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.