Today traders await the US inflation data to be out at 15:30 MT. Jump in to get fresh trade ideas for today!
Important events for March 9-13
Inflation data: overshadowed by the risky factor
On Wednesday, the United States will publish the inflation data at 15:30 MT time. This data, represented by headline and core consumer inflation indices, usually has a great impact on the USD. However, this time we may not see the figures accurate enough to suggest the actual conditions of the US economy due to the ongoing coronavirus outbreak in the United States. For now, analysts forecast the headline CPI to remain at the same level. As for the core data, it is forecast to advance by 0.2%.
ECB: waiting for the next move
The European Central Bank is going to be under the spotlight this week due to its meeting on Thursday at 14:45 MT time. Why? That’s because it will be the first meeting since the start of the coronavirus outbreak and an emergency rate cut by the Federal Reserve. The question which comes to our mind is: will the ECB President Christine Lagarde follow the Fed’s move? Analysts doubt about that. Some see just a small number of measures, including targeted longer-term refinancing operations (TLTRO) and an increase of the Corporate Sector Purchase Programme (CSPP). For sure, this is going to be a real challenge for the new ECB president. Thus, we need to pay attention to the fresh announcements by the regulator and the speech by Ms. Lagarde during a press conference.
Great Britain releases its budget
Another important event of the next Wednesday will be the British annual budget release at 14:30 MT time. Although it may be overshadowed by the coronavirus fears as well, it has the potential to shake the British pound.
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
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