Thursday, the judgment day!

euro day

Thursday January 22. – 12:45 h (GMT), ECB Interest rate decision – 13:30 h (GMT), ECB Monetary policy statement and press conference! Whether the SNB move was hint what could we expect from the ECB? Expectations of market participants are nearly unanimous, we expect from ECB an aggressive QE program. Specifically, market players expect from ECB to announce a large bond purchase programme of EUR500-750bn. What would be the real economy effect from that move? Perhaps big and maybe nothing!? But, what would be the effect on the euro in the FX market? Euro is heavily oversold all over the market and I don’t expect furder big loss from this move if it happens. First move could be negative, but euro recovery could be quick and sharp. What is certain is that, it will be a very exciting market this week, again. Don’t forget this date and time!!!

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