Today is the most important day of the week. At the same time, the first half of the day will be the most active. The focus of investors is the ECB meeting, which is expected to confirm the ECB's plans to soften the monetary policy and take measures to stimulate the economy. Consequently, the euro will be under pressure and may fall against major currencies, given also the rapid decrease in business activity in key EU countries.
The afternoon is expected to be quieter. Data on basic orders for durable goods can be expected from the US, as well as the data on the number of applications for unemployment benefits. At the moment, investors are paying a lot of attention to all news on the US economy, because in less than a week the FED is expected to meet. The interest rate is likely to be decreased at that meeting. At the same time, the demand for risky assets is growing, taking into account the stimulation of the economy and the expectations of investors about the beginning of the next round of negotiations between the US and China.
