Market Focus

On Thursday, October 26, 2017, attention should be paid to the news block on the euro area. The ECB will publish interest rate and rate data on deposit funds.

According to the forecast, the ECB will leave the deposit rate unchanged -0.40%. Also, the ECB will keep the discount rate at the level of 0.0%. Data within the framework of the forecast can cause ambiguous reaction in the market. That is why one should expect the EUR/USD pair to move within 30 points.

A little later, the ECB press conference will take place. The participants of the market will expect the announcement of the reduction in the QE program in 2018 from 60 to 40 billion euros. If the expectations are confirmed, the euro will receive significant support. So, one should expect the strengthening of a single currencies in the range of 60-70 points against the main competitors. Also see https://esterholdings.com/en/2017/10/25/chego-zhdat-ot-etsb/

Alexander Sivtsov