The US inflation will come out today at 15:30 GMT+3. Traders can’t wait to see the numbers as they will impact all the pairs with the USD!
Trading EUR: await news from the ECB
The ECB Monetary Policy Meeting Accounts will be released at 14:30 MT on January 16
The interest rate of 0% is out of the question for the ECB in the foreseeable future, as per the latest press releases. The inflation in the Eurozone still hasn’t reached the 2% target and is not expected to do that in the upcoming months. There are more and more forecasts that promise the further slowdown of the European economy. It’s hard to imagine that the Monetary Policy Meeting Accounts will change the picture. However, although the ECB President Christine Lagarde said previously that she is neither a hawk nor a dove, she mentioned that the quantitative easing will continue “as long as necessary”. We may have more clues on that in the document. In turn, more clues mean trade opportunities. If this policy is confirmed, the EUR will experience selling pressure.
- If the document presses on quantitative easing, the EUR will be under pressure;
- If the document is more hawkish than expected, the EUR will turn up.
The greatest sale of Bitcoin continues! It has approached the psychological mark of $30,000. The traders’ focus remains on Thursday’s report on US inflation.
The European Central Bank plans to post its monetary policy statement together with the interest rate on June 10, at 14:45 MT time.
The United States will release retail sales and producer inflation (PPI index) numbers at 15:30 MT time on June 15.
Gold has plunged amid the stronger US dollar as investors await the Fed’s meeting this week.
All eyes are turning to the Federal Reserve and the US dollar. How to trade XAU/USD, EUR/USD, and GBP/USD?