Daily News

EUR traders ready for ECB Meeting

February 21, 2018

 

europe market movements

UK & EU Events

ECB Meeting Today – The Pound saw losses in response to yesterday’s employment data. Today traders are eyeing the GDP figures which might further affect the Pound. In Europe, the last ECB Monetary Policy Meeting Accounts indicated a tightening of monetary policy. Should today’s minutes show more evidence of a change of policy, the EUR would be expected to gain in value.

 

US Indicators

FOMC Minutes

The USD rose to a one week high yesterday in response to the FOMC minutes. The USD Index gained 0.1% on the expectation of three interest rate hikes this year. The EUR fell to 1.2265 and experts warn that Italian elections on March 4, could further weigh on the single currency. Watch today the EIA Crude Oil Stocks change for effects on the greenback and the loonie too.

 

 

Asian indicators

Asia/Oceania Market Movements

Mixed trading today in Asia after the FOMC Minutes release.  Australia’s S&P/ASX 200 fell by 0.21%, as did the Nikkei which fell by 1.4%, the Kospi by 0.56% and the Hang Seng by 1.48%. Follow the Japanese CPI data overnight.

 

 

commodities

Stocks & Commodities

Oil has also been seeing falling prices with WTI down by 1.26% and Brent 1.98%. Crude prices will of course react to today’s Crude Oil Stocks data. On the Stocks front, stocks rose then fell in reaction to the FOMC Minutes. The Dow Jones ended trading yesterday 0.7% lower, as did the Nasdaq composite which fell by 1%. As pointed out, Asian stocks have also fallen in Asia-Pacific trading.

 

 

 

Today’s Events

09:00 GMT EUR: German Ifo Business Climate Medium Impact
09:30 GMT GBP: Second Estimate GDP q/q High Impact
09:30 GMT GBP: Prelim Business Investment q/q Medium Impact
12:30 GMT EUR: ECB Monetary Policy Meeting Accounts High Impact
13:30 GMT CAD: Core Retail Sales High Impact
13:30 GMT USD: Unemployment Claims Medium Impact
13:30 GMT CAD Retail Sales Medium Impact
16:00 GMT USD: Crude Oil Inventories High Impact
21:45 GMT NZD: Core Retail Sales Medium Impact
21:45 GMT NZD: Retail Sales High Impact

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