Market Crash Incoming?
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
Important day for the EUR
The European Central Bank is going to deliver its interest rate decision at 14:45 (MT time). Interest rate announcement is closely watched by traders struggling to define the future path of EUR/USD. The rate decision, as usual, will be followed by the ECB press conference at 15:30 MT time. The regulator’s president Mario Draghi will explain the reasons behind the ECB decisions and answer the journalists’ questions. As the central bank is not expected to change the interest rate, the press conference will be more important. The speech of Mario Draghi may provide clues regarding the ECB’s future monetary policy.
The minutes of the ECB’s last meeting showed that the central bank is concerned by the escalation of global trade tensions. Traders will watch the central bank’s press conference and trading in EUR/USD and other pairs containing the EUR will likely be very active.
• If the ECB sounds optimistic, the EUR will gain.
• If the ECB sounds pessimistic, the EUR will fall.
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The Last Volatile Week of 2022
The US Bureau of Labor Statistics will release its Consumer Price Index and many other critical events that will move the market this week!
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The RBA and the Bank of Canada will add volatility to the AUD and the CAD, while USD is expected to be boosted by the Non-farm payrolls.
