The Euro Awaits Indicator of Consumer Confidence
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
How will EUR React to ECB Press-Conference?
What will happen?
On Thursday, September 9, the European Central Bank will host a press conference. It's the primary method the ECB uses to communicate with investors regarding monetary policy. The press conference is about an hour long and has 2 parts - first, a prepared statement is read, then the conference is open to press questions. The questions often lead to unscripted answers that create heavy market volatility.
At the past conference on July 22, ECB did not make any changes in the monetary policy. EUR/JPY grew by 0.5%.
How to trade at ECB Press Conference?
- If the statement and answers are more hawkish than the forecast, the EUR is likely to strengthen against other currencies.
- If the statement and answers are more dovish than expected, the EUR is likely to weaken against other currencies.
Instruments to trade: EUR/USD, EUR/AUD, EUR/CAD
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