Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
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
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