EUR/USD today: the market is waiting for the ECB meeting
From the start of the day, the EUR/USD pair has been trading in different directions, which was caused by the publication of weak data on business activity in the eurozone. The forthcoming ECB meeting followed by a press conference remains an additional constraint on the euro. Against this background, the euro may be under thepressure on risks.
Events for today:
- 14:45 – the ECB meeting results will be published: the deposit rate (October), the EC B margin lending rate, the ECB monetary policy statement and the interest rate decision (oct).
- 15:30 – data on the USA will be released: core durable goods orders (m/m) (September), durable goods orders (m/m) (September) and initial jobless claims.
- 15:30 – the ECB press conference will be held.
- 16:45 – the index of business activity in the manufacturing sector (PMI) (October) USA will be announced.
- 17:00 – new home sales (m/m) (September) in the United States will be published.
The day today is very full of data, among which the ECB meeting is of particular opinion, on which the dynamics of the euro will directly depend.
The EUR/USD pair remains to be traded in the October ascending channel, limited by risks and uncertainty, which is associated with Brexit and the expectation of the ECB meeting results. As a result, restrained movement in the side channel is expected. Significant resistance levels are located at the levels: 1.1180, 1.1200 and 1.1230, support: 1.1100, 1.1080 and 1.1050.
Read also: “US and China are returning to the negotiating table”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
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