Forex Focus: ECB Day

EURUSD traders will be very busy today starting at 8:00GMT with the Germany July Ifo business climate survey while the main event today is coming at 11:45GMT as ECB announces their July monetary policy decision while at 12:30GMT the ECB president Draghi delivers his press conference.

ECB will provide fresh monetary stimulus but the question is when; now or in September, also it is unclear if the ECB will go with cutting interest rates only or also opening the door to restart the QE program. You can read here more on EURUSD and ECB Preview.

The UK July CBI retailing, total distributive reported sales, due at 10:00 GMT.

In US forex calendar we have the Initial Jobless Claims, the Wholesale Inventories (Jun) the Durable Goods Orders (Jun) all due at 12:30GMT. The Kansas Fed Manufacturing Activity for July will be released at 15:00GMT.

The central bank of Turkey (CBRT) announces their July monetary policy decision at 11:00GMT.Don’t miss a beat! Follow us on Twitter.

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