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Don’t waste your time – keep track of how NFP affects the US dollar!
The European Central Bank plans to post its monetary policy statement together with the interest rate on June 10, at 14:45 MT time. Analysts don’t expect any changes to the interest rate, which is currently held at 0%. What is more important is the reaction of the bank to stabilizing economic conditions and higher inflation. While the ECB projected inflation at 4% this year, the actual rate overshot the forecast. As a result, the bank may revise its predictions. Another thing the ECB may draw our attention to is the possible tapering of the ECB's pandemic emergency purchase program (PEPP). Analysts expect that the bank will try to avoid discussions on this topic as the Eurozone is still far from a recovery.
The main thing we recommend you to follow is connected with an extension of the pandemic emergency purchase program. While the statement itself may avoid this question, ECB President Christine Lagarde may provide remarks on this topic during the Press Conference at 15:30 MT time.
Instruments to trade: EUR/USD, EUR/JPY, EUR/GBP
Commodities (iron ore, oil) and commodity-linked currencies (AUD, CAD) surged. West Texas Intermediate has reached $75 a barrel, while Brent rose to the highest mark since October 2018.
Although Jerome Powell’s speech sounded hawkish on Wednesday, September 22, markets did not get scared and the main stock indices got bought back…
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
Germany, the leading economy in the Euro Zone, will reveal one of the key economic indicators – German Ifo Business Climate on September 24 at 11:00 MT time.
The Bank of England will hold a meeting on Thursday at 14:00 MT time (GMT+3).
Turkey’s central bank governor was at a crossroads: to hold interest rates and take a risk to be fired like it was for three governors before him, or to comply with the president, to cut rates, and to risk the market. Let’s find out, how to react to the rate cut.