Global macro overview for 08/09/2016
September 8, 2016 8:41 amVideo
Latest News
- Analysis of GBP/USD pair on May 2nd. The final chord for the dollar May 2, 2024
- Analysis of EUR/USD pair on May 2nd. The market calmly responded to the FOMC meeting May 2, 2024
- Technical Analysis – GBPJPY returns to pre-intervention levels May 2, 2024
- JPY terrifies traders May 2, 2024
- Fed makes tough decision May 2, 2024
- USD/JPY: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- EUR/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: trading plan for the US session on May 2nd (analysis of morning deals). The pound was pushed below 1.2521 May 2, 2024
- EUR/USD: trading plan for the US session on May 2nd (analysis of morning deals). Euro bought around 1.0700 May 2, 2024
- EUR/USD. May 2nd. US statistics disappoint once again May 2, 2024
- Technical Analysis – EURUSD capped by 20-day SMA as rebound falters May 2, 2024
- Forex forecast 05/02/2024: EUR/USD, USD/JPY and Gold from Sebastian Seliga May 2, 2024
- USD/JPY: trading tips for beginners for European session on May 2 May 2, 2024
- GBP/USD: trading tips for beginners for European session on May 2 May 2, 2024
- EUR/USD: trading tips for beginners for European session on May 2 May 2, 2024
- Market Comment – Dollar slides as Powell rules out rate hikes May 2, 2024
- RBA decision: will a rate hike be back on the table? – Preview May 2, 2024
- Video market update for May 02, 2024 May 2, 2024
- Technical Analysis – Bullish pressure in AUDUSD lingers May 2, 2024
Global macro overview for 08/09/2016:
Main macroeconomic events of the week, the ECB interest rate decision and ECB press conference, are scheduled for release at 13:45 GMT today. The market participants expect the ECB to leave the interest rate unchanged at the level of 0.00%. No new action is expected from the EBC this month, but its current situation is not a very pleasant one. Inflation and economic growth are clearly not accelerating higher, especially after Brexit. Moreover, the biggest problem seems to be in the limits of assets the ECB can purchase under the rules of the quantitative easing program. Any change to QE will likely require the approval of Germany, which is hardly to come easy. In conclusion, a very interesting event will happen today and traders and investors from all over the word will keep an eye on the ECB decision and Mario Draghi press conference afterward.
Let us now take a look at the EUR/USD technical picture on the 4H time frame. Bulls have managed to break out higher above the technical resistance at the level of 1.1241 and it looks like they are trying to test the golden trend line again from the downside. Any breakout higher will be considered even more bullish with a target at the level of 1.1428.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: