Don’t waste your time – keep track of how NFP affects the US dollar!
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Personal areaThe 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
