The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
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.
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