The US will reveal its Inflation Rate, while Apple will launch iPhone 13 today. How will the markets react? Let’s find out.
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
The next week is going to be interesting for traders. The US, UK, and Canada will reveal the inflation data. Australia will show the labor numbers, while New Zealand – GDP growth.
ECB is holding a meeting today at 14:45 GMT+3! It’s a crucial event for the euro. Read all news in the article!
Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
On Wednesday, September 22, Microsoft will be holding a product launch. The event starts at 18:00 GTM + 3.
The Bank of England will hold a meeting on Thursday at 14:00 MT time (GMT+3).