Boy, oh boy! What a week this is! Not a day goes by that we come face to face with some report or some information on one of the major currencies. These past couple of days we have been getting reports and information on monetary policies and interest rated for major rivals of USD and today, unfortunately, is not going to be an exception for this rule. Plus, when it comes to today’s couple, both of its currencies are going to be subjected to volatility.

Today we are getting for euro:

Main Refinancing Rate - short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.

Monetary Policy - the primary tool the ECB uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.

Statement ECB Press Conference - the primary method the ECB uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy.

For USD:

Crude Oil Inventories - It's the primary gauge of supply and demand imbalances in the market, which can lead to changes in production levels and price volatility.

So, as you can see the day promises to be interesting and challenging, especially for those who prefer trading EUR/USD above all other couples. So, you better watch out for any changes that might occur with the chart.

More information on this you can get with our trading signals.