Here are a short wrap of the latest news and the tech analysis of EUR/USD, AUD/USD, and gold.
What will happen to the euro after the ECB meeting?
What will happen?
The European Central Bank publishes its monetary policy statement that includes an announcement of the interest rate on March 11, at 14:45 MT time. As usual, the event will be followed by a press conference with the ECB President Christine Lagarde at 15:30 MT time. Given to recent increase in the German 10-year Bund yields, the ECB members commented on a possible recalibration of the pandemic emergency purchase program (PEPP). This is a stimulus measure implemented for supporting the economy during the pandemic.
How to trade on the ECB monetary policy statement?
With the threats of surging bond yields, it is very important to monitor the ECB decision. According to the recent report by the bank, there is no need for immediate action. At the same time, the European Central bank considers adjusting PEPP purchases. Pay attention to the tone of the statement. Any dovish hints will pull the euro lower. At the same time, if the regulator does not change its existing plan, the euro may rise.
- If the ECB is optimistic, the euro will get positive momentum;
- If the ECB is pessimistic, the euro will fall.
Instruments to trade: EUR/USD, EUR/GBP, EUR/JPY
Read the report to know the latest news and get the tech analysis of EUR/AUD, EUR/USD, and USD/JPY!
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