
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
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.
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!
Good Wednesday, dear traders! Let’s look at the main news ahead of the main event that will shake the markets: the release of US CPI at 15:30 GMT+3!
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
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US stock markets started falling, while the US dollar is rising. What to expect from
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!