The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
The ECB stimulus may weaken the EUR
The European Central Bank will announce its interest rate and publish the monetary policy statement on September 12, at 14:45 MT time. After that, the ECB president Mario Draghi will conduct a press conference at 15:30 MT time. The market is awaiting the stimulus package by the ECB. There are no doubts that the regulator is about to cut its interest rate. The main question is how big the rate cut is going to be. The announcement of a substantial stimulus and hints on more rate cuts soon will weaken the euro significantly. In addition, it is recommended to pay attention to the tone of the ECB president.
• If the ECB is hawkish, the euro will rise;
• If the ECB is dovish, the euro will fall.
Source of picture: Alexandros Michailidis / Shutterstock.com
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.
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PMI reports from the EU, the UK, and the USA will be released during the day!