ECB in focus, Dollar weakness continues, Gold strong and stock markets tumble
|Important news for the day::
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Thu, 18th 14:15 CET EU ECB interest rate decision.
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Thu, 18th 14:45 CET EU ECB press conference.
ECB decision day
Today traders will focus on the interest rate decision of the European central bank. It is not expected that Christine Lagarde and her team will reduce interest rates. However, the working she will use during the press conference might cause markets to turn volatile, depending on the future outlook. Should she give any hints that the Bank will reduce interest rates in autumn, this could add pressure on the common currency.
Market talk
Currently the weakness in the Dollar remains intact. Most currencies gear up steam against the Greenback. Yet the AUD is lagging behind and not able to follow with the upside potential. This could be a hint that stock markets might face a correction, which is only the case in the broader based tech market currently. The Dow Jones had just resumed its trend to higher price levels. Gold prices remain steady as the trust in the US seemingly is being eroded. After pushing beyond the technical resistance levels with the two pinbar candlesticks in a row further upside potential might now be seen. The weakness in the Dollar might support such view.
Tendencies in the markets:
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Equities mixed, USD weak, BTC strong, ETH positive, oil stronger, Gold strong, Silver positive, JPY stronger
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