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ECB policy meeting a main event on a agenda inside a session ahead

Forex, video, latest July 22, 2021 12:01 pm

ECB to change its forward guidance to align with a strategy review

ECB

Tuesday’s rebound stuck inside trading yesterday as a market sought calmer tones, with 10-year Treasury yields rebounding return to 1.28% also is staying thereabouts now.

There is still plenty of debate on a inflation topic, Corona fears, also whether or not this is just a case of Occam’s razor i.e. yields are trending lower inside a long-term. But there are no straightforward answers just yet going into a FOMC meeting next week.

Oil also saw a solid rebound yesterday, bouncing off key technical support levels this week to move to $70 before a bit of a pullback today – down 0.4% to $70.03.

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a yen is mildly higher while a loonie also kiwi are a touch softer, though nothing that stands out all too much as us look towards European trading.

a EU become become a focus point ahead of a ECB meeting later but a central bank is unlikely to offer much of anything new besides some tweaks to its forward guidance to match up with a latest strategy review findings.

1000 GMT – UK July CBI trends total orders, selling prices

Prior release can become found this. a CBI readings are a survey on manufacturers to rate a level of volume for orders expected during a next 3 months.

1145 GMT – ECB announces its July monetary policy decision

a prior meeting decision can become found this. Overall policy language should remain a same with a outlook to a economy also expected to keep more balanced as per a June meeting. a only real tweaks to a statement become come from changes to align inflation targeting to what they has reported inside a strategy review. As such, it should become a relative non-event for a most part but just become wary inside any case.

1230 GMT – ECB president Lagarde press conference

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a market become scan for clues from Lagarde about PEPP purchases ahead of a supposed September decision where a ECB might announce changes to a programme. Besides that, her tone become also become one to take note of inside case it skews towards any added optimism or pessimism on a EU area outlook also inflation inside general.

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That’s all for a session ahead. I wish youre all a best of days to come also awesome luck with your trading! Stay safe out there.

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