The euro is likely to be well supported after the European Central Bank (ECB) kept interest rates unchanged and offered no guidance on its next move. American Express and Halliburton report earnings.
(AI Video Summary)
ECB’s interest rates decision
In the latest “Look ahead” financial update by IG, the ECB’s decision to hold interest rates steady amidst ongoing inflation scrutiny is highlighted, suggesting potential implications for a September rate cut. Key discussions also include significant trading opportunities in Forex, especially regarding the UK’s consumer metrics and the political stability’s effect on the GBP/USD pair.
Market activity
The video also covers the EUR/USD activity post-ECB announcement, Japan’s inflation data, and evolving dynamics in crude oil markets influenced by US policies and global economic uncertainties. Anticipated US corporate earnings, specifically from American Express, provide insights into consumer behavior trends during economic challenges.
