We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Mixed
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • RT @FactSet: $SPX is reporting revenue growth of 2.9% for Q4, led by the Health Care (11%), Utilities (9%), and Communication Services (9%)…
  • The AUD has been hit by the risk-appetite pullback occasioned by the spread of Wuhan-strain coronavirus. This week may see domestic focus return, if headlines allow, with key inflation data due. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/UIpwno0pSq https://t.co/kib4d1mA0q
  • RT @anilvohra69: USD inverted (red) is correlated to Excess Reserves (blue) and Reserve Balances (green). 1/2 https://t.co/bbO1pPWY4F
  • RT @FactSet: $SPX is reporting a decline in earnings of -1.9% for Q4, led by the Energy (-42%), Consumer Discretionary (-14%), and Material…
  • Becoming a forex trader means living and breathing the excitement, risk and reward of trading in the biggest and most liquid market in the world. Do you have what it takes? Read here to discover the qualities and processes it takes to build consistency: https://t.co/EfWEACQ6Cz https://t.co/6iMyDFqnqe
  • Knowing how to accurately value a #stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/2mjzvYvgSn
  • Previewing the Texas Rangers new home! https://t.co/WITZGSQPlc
  • Thanks for having me on @MartinSEssex https://t.co/fg8uOe16wr
  • The MACD is often used with its default setting when entering trades. However, this versatile indicator can be customized to assist traders in exiting trades too. Learn how to better incorporate the MACD into your trading strategy here: https://t.co/HnY7gzsI2q https://t.co/5F1DSvAXyy
  • What are some factors affecting $GBP as we head into 2020, quarter one? Download your Sterling fundamental forecast with @nickcawley1 here to find out: https://t.co/YfDSYSATK9 https://t.co/ANFLIuDY4J
Euro, Yen and Aussie Dollar May All Find Fuel in ECB Rate Decision

Euro, Yen and Aussie Dollar May All Find Fuel in ECB Rate Decision

2019-03-07 07:30:00
Ilya Spivak, Sr. Currency Strategist
Share:

TALKING POINTS – ECB, DRAGHI, EURO, YEN, AUSTRALIAN DOLLAR

  • All eyes on the ECB policy announcement, forecast downgrade expected
  • Clues on the likely stimulus expansion timing may be most market-moving
  • Impact to extend past Euro to broader risk trends, Yen and Aussie Dollar

The ECB monetary policy announcement headlines the economic calendar in European trading hours. A change in stance is not expected this time around, but traders seem primed for a sharp downgrade of official economic forecasts to set the stage for further easing in the months ahead. As for the likely vehicle, the consensus view appears to favor round of TLTRO liquidity injections into the banking sector.

A large downward adjustment in growth and inflation projections seems to be all but priced in at this point and may not translate into a significant response from price action by itself. Rather, traders will weigh the tone at the post-announcement presser with ECB President Draghi to gauge the likely timing of stimulus expansion. An apparent sense of urgency is likely to weigh on the Euro while hesitation may give it a bit of a lift.

The central bank’s disposition may also prove formative for broader sentiment trends. Worries about slowing global growth have consumed investors recently. With that in mind, the sense that the ECB will offer support relatively sooner rather than later may buoy risk appetite, boosting the cycle-linked Australian and New Zealand Dollars and punishing the Yen. Indecision may translate into the opposite result.

What are we trading? See the DailyFX team’s top trade ideas for 2019 and find out!

ASIA PACIFIC TRADING SESSION

Asia Pacific Trade Economic Calendar

EUROPEAN TRADING SESSION

Europe Trade Economic Calendar

** All times listed in GMT. See the full economic calendar here.

FX TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.