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The European Central Bank plans to post its monetary policy statement together with the interest rate on June 10, at 14:45 MT time. Analysts don’t expect any changes to the interest rate, which is currently held at 0%. What is more important is the reaction of the bank to stabilizing economic conditions and higher inflation. While the ECB projected inflation at 4% this year, the actual rate overshot the forecast. As a result, the bank may revise its predictions. Another thing the ECB may draw our attention to is the possible tapering of the ECB's pandemic emergency purchase program (PEPP). Analysts expect that the bank will try to avoid discussions on this topic as the Eurozone is still far from a recovery.
The main thing we recommend you to follow is connected with an extension of the pandemic emergency purchase program. While the statement itself may avoid this question, ECB President Christine Lagarde may provide remarks on this topic during the Press Conference at 15:30 MT time.
Instruments to trade: EUR/USD, EUR/JPY, EUR/GBP
Wednesday will please traders as many economic indicators will be out! The USA, UK, and Euro Area will release PMI reports on June 23 from 10:15 to 16:45 MT.
Last week the USD soared versus other major currencies, while gold headed for the biggest weekly loss in 15 months. Let’s see what new moves await us this week!
The US dollar has surged to levels unseen since April after the Fed's decision back on Wednesday. Gold has reversed up from the local dips. Still, this week was the worst for gold in more than a year.
The Bitcoin “death cross” has occurred. The S&P 500 rallied the most in five weeks! Crude oil and gold jumped as the US dollar weakened.
Optimistic forecasts on oil prices, nuclear talks with Iran, and upcoming OPEC+ meeting. How to trade oil these days?
Good news for FBS Traders! Top UK stocks have been just added to our platforms: MetaTrader 5 and FBS Trader App.
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