ECB President will be Delivering a Speech Today

ECB President will be Delivering a Speech Today

Market analysts and participants who are trading in the euro quotes will be carefully observing the points included in the speech. As per the sources from the European Central Bank, the speech will be given by the president on Tuesday at 15:15 GMT. Through the speech addressed by Christine Lagarde, the President of the ECB, the official position of the European Central Bank will be reflected. 

A short-term positive effect will be felt on the euro quotes, if the rhetoric of Christine Lagarde suggests possible developments regarding the future monetary policy of the central bank, like the easing or tightening of the policy. 

CPI of the Eurozone to be Published

The Eurostat will be disclosing the Consumer Price Index of the Eurozone on Wednesday at 10:00 GMT and the market participants who are trading in the euro quotes are recommended to be alert during the announcement of the indicator. Economists are forecasting it to have a rise of 0.2%. Moreover, when the indicator that represents the changes in the goods and services prices in the euro area was released on 5th Jan 2024 at 10:00 GMT, it had an increase of 0.2% in place of the estimated decline of 0.1%. Again, if the indicator has a rise of 0.2%, it will have a positive impact on the currency.

Publishing of the Fed Beige Book

According to the sources from the Board of Governors of the Federal Reserve System, the Fed Beige Book will be released on Wednesday at 19:00 GMT. Since it is a consolidated report on the present economic situation prevailing in the US, market participants who are trading in the US dollar quotes are advised to make a note of the significant points included in the report. Based on the positive sentiments comprised in the report, a favourable impact will be felt by the American currency. The report will include the current economic situation regarding the labour and real estate markets, agriculture, industrial production, banking sector and financial sector.