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)…
European Central Bank Will Meet on Thursday
What will happen?
The European Central Bank will make its policy statement on July 22 at 14:45 MT (GMT+3). The bank is expected to update its strategy and share its forecast for inflation. The ECB’s new strategy may allow inflation to overrun the 2% goal when interest rates are at record lows. If it is the case, it will signal that the central bank won’t tighten the policy earlier than expected, which will limit the upside potential for the euro.
How to trade on the ECB statement?
- If the ECB hints at any sign of policy tightening earlier than initially thought, the EUR will rise.
- If the ECB claims it would stay ultra-loose for longer, the EUR will drop.
Instruments to trade: EUR/USD, EUR/JPY, EUR/GBP
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