The US Bureau of Labor Statistics will release its Consumer Price Index and many other critical events that will move the market this week!
Will the last ECB meeting with Mario Draghi be crucial for the EUR?
The European Central Bank will release its monetary policy statement and announce an official rate at 14:45 MT on October 24. After that, the ECB President Mario Draghi will hold a press conference at 15:30 MT time.
We don’t expect any changes to the interest rate this time. However, we will be looking for more hints on future monetary policy decisions in the bank’s statement. As we are awaiting a new round of quantitative easing implemented in November, the bank may provide more details on this program. It is also worth to mention, that Thursday’s meeting is going to be the last one hosted by Mario Draghi. As a result, analysts suggest that the meeting will be about giving him a good send-off.
• If the ECB is hawkish, the euro will rise;
• If the ECB is dovish, the euro will fall.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.