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!
How Will ECB Monetary Policy Statement Affect EUR?
What will happen?
ECB will report its Monetary Policy statement at 14:45 MT (GMT+3) on Thursday, October 28.
It's the primary tool the ECB members use to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.
Last time the ECB announced that the monetary policy will not be changed and EUR/JPY dropped by 0.5%.
How to trade on ECB Monetary Policy statement?
- If the statement is more hawkish than forecast, the EUR is likely to strengthen against other currencies.
- If the statement is more dovish than forecast, the EUR is likely to weaken against other currencies.
Instruments to trade: EUR/USD, EUR/JPY, EURGBP.
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 US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
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.