Now: The Calm before the Storm
Markets undecided yesterday as most major pair trading in the predicted range. The sole exception is the Japanese Yen in which shows a huge weakness and become the worst performance pair yesterday. One of the reasons is that Bank of Japan reaffirmed their stance to maintain the ultra-loose monetary policy amidst all other central bank is trying to tighten their monetary policy to counter the high inflation rate.
Today the focus will be on the European Central Bank. People are expecting ECB to announce the end of the stimulus program while maintaining the current interest rate with a few hints on the rate hike that will be occurs on the July meeting. The July rate hike has been hinting by several policy makers of the ECB in multiple occasion and it almost set in the stone. The only confirmation the people need is by how many point the rate hike will be.
9 June 2022