The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
The big day for EUR on June 23
The Eurozone Manufacturing PMI will be published at 11:00 MT Time on June 23.
Instruments to trade: EUR/USD, EUR/JPY, EUR/CHF
This day will be especially important for the Eurozone as both France and Germany will report their data at 10:15 and 10:30 MT time, respectively. Later the overall Eurozone PMI will be released at 11:00 MT time. This indicator shows the survey of 5,000 purchasing managers in the manufacturing industry. Investors pay a lot of attention to it as it’s the most relevant assessment of the current economic activity and the company's view of the economy. When the indicator is above 50.0, it signals the industry expansion, below – contraction. Nevertheless, these days it only needs to be better than expected to push prices up.
- If the actual level of Manufacturing PMI is higher than the forecasts, the EUR will rise;
- If the actual level of Manufacturing PMI is lower than the forecasts, the EUR will fall.
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!