Central Bank Meetings in Focus This Week as Dollar Strengthens
Login

Central Bank Meetings in Focus This Week as Dollar Strengthens

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


Ahead of an important week of central bank meetings and data, the euro (EUR) grew weaker on Monday as the US dollar (USD) saw some bullish momentum.

Central Bank Data From the US, Europe, and Britain to Determine Market Dynamics

Leading the pack are the Federal Reserve, the European Central Bank (ECB), and the Bank of England (BoE). Rate increases of at least 50 basis points (bps) are anticipated by the market for all three banks.

Despite additional indications from China that they may be reversing their very restrictive COVID-19 policy, risk assets in general have been under pressure today. According to a prominent health authority, the omicron variant has a fatality rate that is comparable to that of the flu.

The growth-linked Australian Dollar (AUD) had the poorest performance throughout the Asian session, and APAC stocks are a sea of red.

The US PPI for November, which dropped last Friday, was 7.4% higher than anticipated. The focus now shifts to the US CPI, scheduled to be released tomorrow.

Despite reports that a major North American pipeline is still closed, crude oil prices have remained stable thus far. The Keystone Pipeline links the US Gulf Coast and Canadian oil fields.

At press time, the Brent contract is just over $76.50 a barrel, and the WTI futures contract is close to $71.60 bbl. Meanwhile, gold has fallen below $1,800, while longer-term Treasury yields have fallen a few basis points.

In other news, US authorities ordered Japan to stop exporting chips to China, adding to the Netherlands’ request made last week.

Finally, the trade balance, industrial production, and manufacturing production figures are the day’s top UK data releases.

 

You can purchase Lucky Block here. Buy LBLOCK

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News