The Euro to Pound exchange rate continues to move sideways ahead of monetary policy decisions by the Bank of England (BoE) and the European Central Bank (ECB) on Thursday.
A few noted the "possibility of resuming trend growth of the balance sheet to help stabilize the level of reserves in the banking system" and several participants suggested that they could also benefit from "considering the merits of introducing a standing repurchase agreement facility."
Source: Federal Reserve
Will this pump up the stocks?
Will this weaken dollar?
Here is a accelerate reaction from FX market. EUR/USD is getting out from the falling wedge pattern and there is a probability of EMA 50 and green resistance area test.
This article serves only for education purpose and can NOT be considered as investing advice.
Global markets ended last week on a positive note. Moving ahead, markets are expected to be volatile this week, with investors closely watching economic data and global events. The inventors are anxiously awaiting Wednesday’s decision by the Federal Reserve on interest rates along with ECB and BOE decisions on Thursday.
Shares of the home furnishings and décor e-tailer Wayfair (NYSE: W) retreats almost 10% after the stock spiked more than 50% from the last Thursday’s closing. However, Investors continued to show buying interest in Wayfair shares in the coming days.
This week the economic calendar will bring investors the fourth quarter US GDP report, PCE price index and durable goods orders data. The main event on the calendar for monetary policy this week is the meeting of the Bank of Canada on Wednesday.