The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
Will the ECB be hawkish this time?
The European central bank will release its monetary policy statement and conduct a press conference on April 10 at 14:45 MT time.
We don’t expect the ECB to change its interest rate which is currently kept at 0%. However, the ECB president Mario Draghi may provide some hints on the possible changes to the current monetary policy amid the global slowdown. Last time his dovish comments on the current economic weakness in Europe pulled the EUR lower. If he is more hawkish this time, the EUR will rise.
• If the ECB is hawkish, the EUR will go up.
• If the ECB is dovish, the EUR will go down.
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