The market is waiting for the ECB – and the beginning of a trend
October 26, 2018 1:22 am
The market is waiting for the ECB – and the trend.
THe big picture: Focus on the ECB.
On Wednesday late at night, the Federal Reserve released a report on the state of the US economy “Beige book”. The economy continues to grow in all regions of the United States, from weak to moderate. The labor market remains very strong – in many districts there is a shortage of workers.
Prices are rising moderately. In general, the Fed has every reason to continue raising rates – the meeting on November 7.
The euro broke down the key support at 1.1430 and thus gave a signal for a downtrend.
But options are possible: today the ECB meeting and ECB President Draghi at 12: 30 London time.
In addition, on Friday, the first reading of US GDP report for the 3rd quarter.
The material has been provided by InstaForex Company – www.instaforex.com
The market is waiting for the ECB – and the trend.
THe big picture: Focus on the ECB.
On Wednesday late at night, the Federal Reserve released a report on the state of the US economy “Beige book”. The economy continues to grow in all regions of the United States, from weak to moderate. The labor market remains very strong – in many districts there is a shortage of workers.
Prices are rising moderately. In general, the Fed has every reason to continue raising rates – the meeting on November 7.
The euro broke down the key support at 1.1430 and thus gave a signal for a downtrend.
But options are possible: today the ECB meeting and ECB President Draghi at 12: 30 London time.
In addition, on Friday, the first reading of US GDP report for the 3rd quarter.
The material has been provided by InstaForex Company – www.instaforex.com
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