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How Will EUR React to ECB Press Conference?
What will happen?
The ECB will publish the Monetary Policy statement on Thursday, April 14, at 14:45 MT (GMT+3).
After that, the bank will host a press conference at 15:30 MT time (GMT+3).
The central bank will share the details about the current interest rate and other policy decisions, such as the overall economic outlook and the inflation forecasts. Moreover, the ECB may provide clues regarding future monetary policy.
Last time, the statements were more dovish than was expected. As a result, EURUSD lost 1750 points within two days.
How to trade on the ECB meeting?
- If the ECB statement is more hawkish than forecasted, EURUSD will likely rise.
- If the ECB statements are more dovish than forecasted, EURUSD will likely fall.
Instruments to trade: EURUSD, EURCAD, EURGBP
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.
Every week we expect many interesting events that can shake the market.