2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
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