Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The ECB is going to move the euro
The European Central Bank publishes the monetary policy statement alongside with an update on the interest rate on October 29, at 14:45 MT time.
Instruments to trade: EUR/USD, EUR/JPY, EUR/GBP
This October brought negative news to the Eurozone. The new wave of coronavirus cases across the Union as well as the uncertain outlook for the GDP growth in the fourth quarter may push the policymakers towards more actions. The officials have already warned the European banks about the possibility of negative rates coming soon. We recommend you to keep an eye on the statement as well as on the comments by the ECB President Christine Lagarde during the press conference at 15:30 MT time. Her remarks about the current performance of the euro and on the possible monetary policy changes will be in focus.
- If the ECB confirms more easing needed, the EUR will weaken;
- If the ECB doesn’t change its attitude, the EUR will strengthen.
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on July 8, at 15:30 MT time.
The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.