The top events of the week will be the US Federal Reserve Statement and the Bank of England's release of Monetary Policy Statement. However, take into account that inflation and retail sales data might cause notable moves. On Tuesday, at 12:30 GMT, the US Producer Price Index data will be out. Expect minor moves on USD charts. On Wednesday, Canadian Dollar pairs
On Thursday, March 10, the European Central Bank published its Monetary Policy Statement. In general, the bank kept its interest rates unchanged. However, the bank announced that it would end the Pandemic emergency purchase programme and slow down the Asset purchase programme. The bank revealed also that interest rates could be changed only after the programs have been shut down.
There are only three notable times to watch the calendar scheduled for the week. Moreover, there is nothing noteworthy until Wednesday. On Wednesday, at 15:30 GMT, crude oil prices are expected to react to the publication of the weekly US Energy Information Administration crude oil inventories data. On Thursday, at 12:45 GMT the European Central Bank will release its Main Refinancing Rate.
On Wednesday, March 2, the Bank of Canada hiked its Overnight Rate from 0.25% to 0.50%. The rate hike was expected by the markets. Meanwhile, the central bank announced that it would keep its holdings of government bonds unchanged. In addition, the bank announced that it would implement more monetary tightening in the future. Quoting the statement: "The Bank of
On Tuesday, March 1, at 03:30 GMT the Reserve Bank of Australia published its Monetary Policy Decisions. In general, the central bank kept its cash rate at 0.10%. Meanwhile, the bank commented on the global economy and the conflict ongoing in Ukraine. Quoting the statement: "The global economy is continuing to recover from the pandemic. However, the war in Ukraine
As the headline states, during the week central banks and US employment data is set to be in focus. Namely, the Bank of Canada and Reserve Bank of Australia are scheduled to make rate statements. On Tuesday, at 03:30 GMT, the Reserve Bank of Australia is set to publish its Rate Statement. The central bank is expected to keep its interest
During this week, there are various types of events, which could impact different currencies. However, among the events it is clear that the top one is the quarterly US Preliminary Gross Domestic Product data release on Thursday at 13:30 GMT. The week's notable events will start on Monday at 08:30 GMT, as the German Markit Manufacturing and Services Purchasing Managers Index
At 19:00 GMT on Wednesday, the US Federal Reserve's Federal Open Market Committee published its meeting minutes from January. The document revealed that the Committee agreed upon that, if inflation does not decrease as expected, the Fed would tighten policy more than planned. The EUR/USD reacted to the news with a 22 base point surge over the span of 23 minutes.
During the week, the US, UK and Canada will release various inflation and retail sales data sets, which are set to reveal how consumers have been spending and how prices have changed in the top economies. On Tuesday, at 13:30 GMT, the US Producers Price Index data will reveal, how high is the inflation at the production level. On Wednesday, at 07:00
At 13:30 GMT, the US government released the monthly Consumer Price Index data. US month-on-month inflation was revealed to be higher than forecast, as the CPI came in at 0.6% instead of 0.4% The value of the US Dollar immediately surged, as the higher than expected inflation strengthened the case of the US Federal Reserve for monetary tightening. Namely, hiking interest
There will be one notable event during the week. On Thursday, the publication of the US Consumer Price Index and US Core Consumer Price Index data at 13:30 GMT is set to impact the value of the US Dollar. Note that at the same time, the weekly US Unemployment Claims will be published. Meanwhile, crude oil traders are set to watch the
On Thursday, at 12:45 GMT, the European Central Bank published its Main Refinancing Rate and Monetary Policy Statement. In general, the bank kept its rate at 0.00%, but revealed that it would end its quantitative easing policy. Quoting the statement: "In the first quarter of 2022, the Governing Council is conducting net asset purchases under the PEPP at a
On February 3, the Bank of England published its Monetary Policy Summary. The bank hiked its interest rate by 0.25% to 0.50%. In addition, the central bank Monetary Policy Committee voted unanimously to start to reduce its stock of bonds. Namely, the bank is starting quantitative tightening. Quoting the statement: "At its meeting ending on 2 February 2022, the
On February 2, the Reserve Bank of Australia revealed its future monetary policy by issuing a statement. In general, the bank revealed that it would end its quantitative easing program via bond buying. Meanwhile, interest rates were left unchanged. Quoting the statement: "At its meeting today, the Board decided to maintain the cash rate target at 10 basis points and
This week, the central banks of Australia, the United Kingdom and the European Union are set to reveal their monetary policy by issuing statements and setting interest rates. The Reserve Bank of Australia is set to publish its interest rate on Tuesday at 03:30 GMT. On the same day, at 13:30 GMT, the Canadian GDP data will be released. Also on
On Thursday, the United States Advance quarterly GDP was revealed to be at 6.9% instead of the market consensus forecast of 5.3%.The event fuelled the already ongoing surge of the US Dollar against other currencies. The EUR/USD reacted with a 22 base point or 22 base point decline in only ten minutes.
On January 26, the US Federal Reserve Federal Open Markets Committee issued a monetary policy statement. In general, the bank announced that it would finish monthly bond-buying taper in early March, it would soon be appropriate to raise the Federal Funds Rate and US economy is improving, but the pandemic is still having an impact. Quoting the statement: "Indicators of
On January 26, the Bank of Canada made a Rate Statement. In general, the bank kept its Overnight Rate at 0.25% and is set to keep its investments in government bonds constant. However, the markets could have reacted to the news that the bank would remove its exceptional forward guidance on its policy interest rate. Quoting the statement:
The week's notable scheduled events are set to start on Wednesday at 07:00 GMT. At that time, the UK Consumer Price Index could cause moves on GBP charts. Later on, at 13:30 GMT, the Canadian Consumer Price Index is set to be published. On Thursday, the US weekly Unemployment Claims at 13:30 GMT could cause a minor USD move. Afterwards, at 16:00
On Wednesday, at 13:30 GMT, the US Consumer Price Index and Core Consumer Price index data was released. The USD reacted by declining. For example, the EUR/USD rate jumped 40 base points in the ten minutes following the release. The data beat the forecasts, as the US CPI came in at 0.5% instead of the forecast 0.4%. Meanwhile, the
The top data set of the week will be released on Wednesday at 13:30 GMT. At that time, the US Consumer Price Index and Consumer Price Index are set to be published. Later on, at 15:30 GMT, the US Energy Information Administration would publish its weekly US Crude Oil Inventories. On Thursday, at 13:30 GMT, the US Producers Price Index and
On Friday, at 13:30 GMT, US monthly employment data was published. At the moment of the release, the data caused an USD volatility increase. The EUR/USD shortly fluctuated in a 25 base point range. The volatility was caused by mixed data, as the initial jump of the rate could be attributed to the worse than forecast Non-Farm Employment Change numbers
On Thursday, at 17:00 GMT the US ISM Services PMI caused US Dollar volatility, as immediately after the release of the worse than forecast data USD dropped and recovered. The EUR/USD increased its volatility to 16 base points or 0.14%. The Purchasing Managers Index survey results came in at 62.0 points instead of the forecast 67.0 points. In theory, the data
At 19:00 GMT on Wednesday, the value of the US Dollar increased due to the publication of the Federal Open Market Committee Meeting Minutes. The strengthening occurred gradually during a period of thirteen minutes, as the market participants read the publication and realized that the monetary policy makers were more hawkish than previously thought. The EUR/USD currency exchange rate reacted