The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
It’s time for the ECB to move the euro
The ECB press conference is anticipated on March 7, at 15:30 MT time. We anticipate the interest rate to remain at the same level of 0%. However, ECB president Mario Draghi, who is known for his unexpected statements, may provide some supportive data for the EUR despite the global uncertainties and the economic instability in the Eurozone.
• If the European central bank is hawkish, the EUR will go up;
• If the European central bank is dovish, the EUR will go down.
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!