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Big Day for Euro Assets; European Central Bank (ECB) about to ignite fresh stimulus!!!!

Jul 25, 2019 (07:45)

by John Knobel

EUR/USD drops -142 pips last 5 days; Euro expected to come under downside pressure as the ECB is expected to signal imminent easing (stimulus to boost EU economies); markets are expecting a 0.10% cut in deposit rates; current EUR/USD price 1.1130; resistance at 1.1230 downside on a break below 1.1107 towards 1.0990 support;

Upcoming Events:

11:45 GMT; European Interest rate decision forecast to remain unchanged; main events will be the European Central Bank (ECB) Monetary Policy Statement which contains commentary about the economic conditions; and the ECB Press Conference at 12:30 GMT
Today; US Core Durable Goods Orders forecast to drop from 0.4% to 0.2%;
Today earnings update; Danone beat earnings, earning 1.87 euros per share; Telefonica reported to earn 0.25 euros per share; Amazon due to report earnings forecast to earn $5.564 per share;
Friday; US GDP forecast to be weakest in two years; and earnings updates from Google; Twitter and McDonald’s;

Source: FXGM / Bloomberg

The original content of this Market Update is done in the English language. Any other language translation is provided for the sake of convenience. In case of any inconsistencies between the original English version and any other language, the original English version shall prevail.

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