EUR/USD today: euro is waiting for ECB meeting results

On Thursday, trades on the pair EUR/USD are under pressure of correction after yesterday’s growth. Earlier, the reason for the sale of the American dollar was the data on the progress of negotiations on the NAFTA trade agreement and the fact that the US is ready to hold a new round of talks with China.

Events for today:

• 14:00 – the results of the Bank of England meeting.
• 14:45 – the results of the ECB meeting.
• 15:30 – the US inflation report: core consumer price index (CPI) (m / m) (Aug), core consumer price index (CPI) (y / y) (Aug), consumer price index (CPI) ( m / m) (Aug) and the  initial jobless claims.
• 15:30 – the press conference of the ECB.
• 21:00 – a report on the implementation of the US federal budget (Aug).

The day is very eventful today, among which the meetings of the Bank of England and the ECB deserve special attention. By the end of the European session, there will be an inflation report in the US, that will affect the US dollar.

Against the background of the ECB meeting, the market began to correct positions on the euro. Since it is expected that the ECB will leave monetary policy unchanged, until the release of the ECB report and, probably, after a negative dynamics on the pair will continue. Growth volatility is expected at the ECB press conference. The support levels are located at the levels: 1.1600, 1.1580 and 1.1550, resistance: 1.1630, 1.1650 and 1.1680.

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Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

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