Friday Trades: EUR/USD, USD/JPY, and Gold
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.
European Central Bank Will Meet on Thursday
Information is not investment advice
What will happen?
The European Central Bank will make its policy statement on July 22 at 14:45 MT (GMT+3). The bank is expected to update its strategy and share its forecast for inflation. The ECB’s new strategy may allow inflation to overrun the 2% goal when interest rates are at record lows. If it is the case, it will signal that the central bank won’t tighten the policy earlier than expected, which will limit the upside potential for the euro.
How to trade on the ECB statement?
- If the ECB hints at any sign of policy tightening earlier than initially thought, the EUR will rise.
- If the ECB claims it would stay ultra-loose for longer, the EUR will drop.
Instruments to trade: EUR/USD, EUR/JPY, EUR/GBP
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Friday Trades: EUR/USD, USD/JPY, and Gold
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.
EUR, USD, GBP: all attention to PMI reports
PMI reports from the EU, the UK, and the USA will be released during the day!
Oil and BTC Surged, EUR Awaits ECB
Today traders await the European Central Bank to make a policy statement at 14:45 MT (GMT+3).
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