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Euro Enters The Week Strong As The Market Awaits ECB Announcements Due Later This Week (EUR/USD, EUR/GBP, EUR/CHF), Focus On The RBA Announcement On Tuesday (GBP/AUD)

Euro Enters The Week Strong As The Market Awaits ECB Announcements Due Later This Week (EUR/USD, EUR/GBP, EUR/CHF), Focus On The RBA Announcement On Tuesday (GBP/AUD)| FXMAG.COM
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Table of contents

  1. EUR strong entering the week
    1. Both Euro and Pound sterling entered the week strong
    2. EUR/CHF bullish
    3. RBA due to make an announcement

Summary:

  • ECB interest rate decision due to occur later this week.
  • Confidence vote being held for Boris Johnsson later on Monday.
  • Investor confidence could be returning to the markets.
  • On Tuesday the Reserve Bank of Australian (RBA) is due to announce its decision regarding tightening of monetary policy.

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EUR strong entering the week

On Monday market sentiment for this currency pair turned bearish. The Euro opened stronger on Monday as the market awaits the European Central Banks (ECB) interest rate decision, which is due to occur later this week. If the European Central Bank shows any signs of dovish intentions, the effects could be heavy on the Euro's downside, however, if a hawkish attitude is shown (which seems to be more likely), the upside effect on the euro may be minimal as the expected hike is already priced into the market.

U.S CPI data is expected to close off this week, if there is another undershoot regarding the CPI data, it will just confirm that inflation has reached its peak and add to dovish pressure.

euro enters the week strong as the market awaits ecb announcements due later this week eur usd eur gbp eur chf focus on the rba announcement on tuesday gbp aud grafika numer 1euro enters the week strong as the market awaits ecb announcements due later this week eur usd eur gbp eur chf focus on the rba announcement on tuesday gbp aud grafika numer 1 EUR/USD Price Chart

Both Euro and Pound sterling entered the week strong

The market is reflecting mixed signals for this currency pair. As the market awaits the European Central Bank's (ECB) announcement regarding the decision for interest rates in July and September, the Euro entered the week strong. In addition, the pound sterling also entered the week strong despite a confidence vote being held this evening to determine Prime Minister Boris Johnssons future as leader. The pound sterling holding strength, shows its resilience to political tensions.

euro enters the week strong as the market awaits ecb announcements due later this week eur usd eur gbp eur chf focus on the rba announcement on tuesday gbp aud grafika numer 2euro enters the week strong as the market awaits ecb announcements due later this week eur usd eur gbp eur chf focus on the rba announcement on tuesday gbp aud grafika numer 2 EUR/GBP Price Chart

EUR/CHF bullish

The market is reflecting bullish signals for this currency pair. Amidst the expected announcements from the European Central Bank this week, the Euro has entered the week strong, even against the safe-haven Swiss Franc. During times of economic stress, investors normally turn to safe-haven assets, however investor confidence seems to be returning to the markets.

euro enters the week strong as the market awaits ecb announcements due later this week eur usd eur gbp eur chf focus on the rba announcement on tuesday gbp aud grafika numer 3euro enters the week strong as the market awaits ecb announcements due later this week eur usd eur gbp eur chf focus on the rba announcement on tuesday gbp aud grafika numer 3 EUR/CHF Price Chart

RBA due to make an announcement

The Australian Dollar entered its third week of gains this week in the wake of China’s easing of Covid-19 lockdowns and stronger than expected GDP data. However, on Tuesday the Reserve Bank of Australian (RBA) is due to announce its decision regarding tightening of monetary policy. The price of the GBP/AUD currency pair is sensitive to the price changes of the GBP/USD currency pair.

euro enters the week strong as the market awaits ecb announcements due later this week eur usd eur gbp eur chf focus on the rba announcement on tuesday gbp aud grafika numer 4euro enters the week strong as the market awaits ecb announcements due later this week eur usd eur gbp eur chf focus on the rba announcement on tuesday gbp aud grafika numer 4 GBP/AUD Price Chart

Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com


Rebecca Duthie

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance. 


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