Markets await ECB's statement

Markets await ECB's statement

The market sentiment has started improving since yesterday. Riskier assets and stocks surged higher, while the US dollar is headed to the downside. The main event of the day is the ECB’s monetary policy statement. The central bank is expected to leave its monetary policy and rates unchanged. However, there are two absolutely opposite views on the tone of the upcoming meeting. Most analysts believe the bank is going to show more optimism and confidence in the economic recovery, which will push the EUR upwards. While there are some other analysts, who argue that the ECB remains unsatisfied with the appreciated euro, which in turn weighs on exports. Therefore, they believe the bank may take action to push the euro down. So, the further euro’s movement depends on what the ECB will opt for optimism or pessimism.

Let’s look at the EUR/USD chart. It keeps rallying upward. The move above the high of September 4 at 1.1860 will drive the pair further to the key psychological mark of 1.1900. In the opposite scenario, if EUR/USD falls below the low of September 9 at 1.1760, the doors towards 1.1700 will be open. Follow the ECB statement at 14:45 MT time as it will define the further EUR movement! Later on, at 15:30 MT time, the ECB will hold a press conference, where the bank will answer unscripted questions, which will add some additional volatility to the market. Moreover, at the same time US producer price index and unemployment claims will be out.

Check the economic calendar


Speaking about stocks, they have risen too since yesterday. The S&P 500 has just broken through the key psychological mark of 3 400. If it jumps above Tuesday’s high of 3 435, the way to the high of September 4 at 3 475 will be clear.


Let’s move on to gold. The yellow metal has just bounced off the resistance of $1 950. If it manages to cross it, it may surge to the high of September 2 at $1 965. Support levels are at recent lows at $1 925 and $1 910.


Finally, let’s talk about the British pound. It has dramatically plummeted since the beginning of September because of the fears over the no-Brexit deal. However, today the overall risk-on sentiment underpinned even the GBP. Besides, this morning there was the UK upbeat report on the housing market also added tailwinds. If GBP/USD jumps above the recent high of 1.3050, it will clear the way towards the next resistance of 1.3120 at the 200-period moving average.




News for The Week
News for The Week

US stock markets started falling, while the US dollar is rising. What to expect from

Latest news

NFP, Oil, and US Stocks Highlight This Week
NFP, Oil, and US Stocks Highlight This Week

Welcome to the first week of October!  As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events. 

The US Dollar Is Correcting
The US Dollar Is Correcting

Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?

Bearish Signal For The USD
Bearish Signal For The USD

XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera