Euro Nervous Before ECB Session. Overview 25.07.2019.
The euro/dollar remains under pressure on the verge of the ECB session, upon which the market is expecting some softening of credit and monetary policy. The current quotation is 1.1135.
The main events for today are the ECB session, the decision of the regulator and the press-conference of the CB head Mario Draghi. The key expectations are connected with the parameters of deposit rates: there is a big chance of its decrease to -0.60% against the current -0.40%.
On the market they say that, perhaps, the ECB should be acting in advance in order not to face graver economic problems by September. The main issue is the time when the regulator will be able to start a full-scale softening, i.e to decrease the rate and go back to the asset returning program.
What also deserves attention today is the data on the amount of orders for durable goods in the USA. The forecast says that the indicator could have recuperated by 0.8% (calculated monthly) after a decline by 1.3% a month earlier. The index itself is very volatile and mobile, so it is worth paying attention to the components of the report.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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