The European Central Bank: How to Save EUR?

The European Central Bank: How to Save EUR?

What will happen?

The ECB will make a statement regarding the future monetary policy on Thursday, July 21, at 15:15 MT time (GMT+3). After that, the press conference will take place at 15:45 MT time (GMT+3).

This is how the ECB communicates with investors. The statement contains the bank’s decision on interest rates and comments on the economic conditions. It’s a big event for the EUR due to the ongoing currency weakening.

Last time, the ECB statement met expectations, and the bank didn’t raise the key rate. As a result, the EUR decreased versus other currencies. If you traded one lot EURUSD, you could have earned $1200. 

ECB statement.jpeg

How to trade on the ECB Statement?

  • If the statement is more hawkish than the Forecast, the EUR will likely strengthen against other currencies.
  • If the statement is more dovish than the Forecast, the EUR will likely weaken against other currencies.

Check the Economic Calendar.

Instruments to trade: EURUSD, EURGBP, EURJPY.

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