Fed Chair Jerome Powell’s comments on the Jackson Hole Symposium resulted in the worst weekly candle in US500 since June.
How Will ECB Press Conference Affect EUR?
What will happen?
The ECB will host a press conference on March 10, at 15:30 MT (GMT+2).
The central bank will uncover the factors that affected the current interest rate and other policy decisions, such as the overall economic outlook and the inflation forecasts. Most importantly, the ECB may provide clues regarding future monetary policy.
Last time the statements were more hawkish than it was expected. As a result, EURUSD gained 2000 points.
How to Trade on the ECB Meeting?
- If the ECB statements is more hawkish than forecasted, EURUSD is likely to rise.
- If the ECB statements is more dovish than forecasted, EURUSD is likely to fall.
Instruments to trade: EURUSD, EURCAD, EURGBP
Last week several important economic updates influenced the Forex market. US preliminary GDP fell less than expected (0.6% actual vs. 0.7% forecast). Below you will find the key events to trade on during the week from August 29 to September 2.
The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.