Markets Await Latest ECB Interest Rate Announcement [Video]

Anthony Cheung Amplify

- Overview of sentiment and headlines in play at the European open.

- Chinese authorities put Wuhan on lock down to control Coronavirus.

- Brexit deal clear parliament but focus now on trade deals with the US and EU - What to expect from today's ECB interest rate announcement and press conference.

- BTPs on the move as Italian government in new crisis ahead of regional elections.

- Australian Dollar strengthens overnight as rate cut odds are slashed following an unexpected fall in unemployment.

- Recap of the API inventories last night ahead of today's DoE report.

- Technical review of the charts from Sam North.

Author

Anthony Cheung

Amplify

Anthony has spent over a decade working at the forefront of financial news.

EUR/USD makes a U-turn, focus on 1.1900

EUR/USD’s recovery picks up further pace, prompting the pair to retarget the key 1.1900 barrier amid further loss of momentum in the US Dollar on Wednesday. Moving forward, investors are expected to remain focused on upcoming labour market figures and the always relevant US CPI prints on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.