The ECB Meeting Is in the Spotlight

September 10, 2020

Yesterday, currency majors strengthened their positions against the US dollar. The dollar index (#DX) closed in the red zone (-0.20%). The single currency has been growing before today’s ECB meeting. The Central Bank is expected to keep the key marks of monetary policy unchanged. We recommend paying attention to the comments by the regulator’s representatives.

Financial market participants will also assess important US economic releases. GBP/USD quotes have moved away from local lows. However, the British pound is still under pressure due to Brexit uncertainty. We also recommend following up-to-date information concerning the conflict between Washington and Beijing.

The “black gold” prices have been declining again. At the moment, futures for the WTI crude oil are testing the $37.55 mark per barrel. At 18:00 (GMT+3:00), EIA crude oil inventories will be published.

Market indicators

Yesterday, there was the bullish sentiment in the US stock market: #SPY (+1.97%), #DIA (+1.61%), #QQQ (+2.94%).

The 10-year US government bonds yield is consolidating. At the moment, the indicator is at the level of 0.68-0.69%.

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The news feed for 2020.09.10:

– ECB interest rate decision at 14:45 (GMT+3:00);
– Initial jobless claims in the US at 15:30 (GMT+3:00);
– Producer price index in the US at 15:30 (GMT+3:00).

by JustForex

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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The ECB Meeting Is in the Spotlight

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