The US Bureau of Labor Statistics will release its Consumer Price Index and many other critical events that will move the market 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.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…