Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
Trading on the ECB meeting
The ECB will announce the interest rate and hold a press conference on Thursday at 14:45 MT time.
Instruments to trade: EUR/USD, EUR/GBP, EUR/JPY, EUR/CAD
March 12 will be when the ECB gathers for another meeting to hold its monthly press conference and announce its interest rate and monetary policy outlook. As usual, we are not expecting any changes to the rate itself but will look into the details of the verbal message. At the same time, this “as usual” becomes not that usual as the coronavirus damage is yet spreading around, and the Eurozone is still about to discover its effects. When the ECB President Christine Lagarde was asked whether the policymakers were to act on it, she explained that they are watching it very carefully. But, she informed, they still don’t see that the virus outbreak created a “long-lasting shock” which would warrant a rate cut because of distorted supply, demand, and inflation. Hence, lets pay attention to what she says this time – this will guide us through EUR’s performance in the Forex market.
- If the ECB is dovish, the EUR will fall.
- If the ECB is hawkish, the EUR will rise.
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
PMI reports from the EU, the UK, and the USA will be released during the day!
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!