In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
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
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
US stock markets started falling, while the US dollar is rising. What to expect from
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.