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The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The European central bank may move the EUR
The European central bank will publish its monetary policy statement on June 6, at 14:45 MT time. As usual, after that, the ECB president Mario Draghi will hold a press conference with a Q&A session at 15:30 MT time.
The interest rate is expected to remain at 0%. However, the tone of the statement by Mr. Draghi may shake the euro. According to the ECB vice president Luis de Guindos, the risks for the Eurozone include potential trade war with the US, Brexit and the weakness in emerging markets. Will these factors influence on the comments by the ECB president? If Mr. Draghi sounds positive, it will push the euro up.
• If the ECB is hawkish, the EUR will go up;
• If the ECB is dovish, the EUR will go down.
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Uncertainty underpinned USD
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
US dollar turned up after closing in red yesterday
The market sentiment is mixed, but there are still interesting movements on the market.
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Final debate and stimulus talks are in focus
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GOOGLE: in the crosshairs
The US Department of Justice thinks 87% a market share is too much for Google alone. The market thinks it's ok.
All attention to Euro
EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!
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