ECB day

Frank Walbaum FX Strategies.Asia

Important news for the day

17th, 03:30 CET AU Unemployment rate
17th, 14:15 CET EU ECB interest rate decision
17th, 14:45 CET EU Press conference

ECB day

Today, traders will wait for the interest rate decision of the ECB. It is expected that the central bank will cut rates by another 25 basis points, which has been priced in to markets. Yet, another reason of market volatility might be the further outlook of Christina Lagarde.In particular any statements towards their preparation in regards to the tariffs from the US might move markets. Any weakness in the EURUSD currency pair might then be used to get into fresh long positions. The EUR is expected to remain stronger against the Greenback and other currencies.

Market talk

While equities from the US have not been able to rise much European stocks were able to gear up some steam. The DAX is trading close to the 50- moving average based on the daily chart, while the S&P 500 and Nasdaq are further away from that technical resistance zone. Oil on the other hand remains positive, which could indicate that the positive risk sentiment remains intact. Yet, the AUDUSD currency pair might be vulnerable for some losses of the technical resistance zone. A break of the 0.6400 area is needed for further upside momentum.

Tendencies in the markets

Equities positive, USD weak, cryptos positive, oil positive, Silver positive, Gold sideways, JPY weak.

Author

Frank Walbaum

FX Strategies.Asia

Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.

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